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The Latest Breaking News from Aramco

Saudi Arabia to Supply Full Crude Contract Volumes to Asia

Several informed sources said that the giant Saudi Aramco plans to supply full crude contract volumes loading in May to several North Asian buyers despite its pledge to cut output by 500,000 barrels per day, Reuters reported. This comes after the Organization of the Petroleum Exporting Countries (OPEC) and the…

Asharq Al-Awsat

Saudi Arabia hikes oil prices to Asia after OPEC+ shock cuts

Saudi Arabia hiked official selling prices for all of its oil sales to Asian customers in May, days after the kingdom led a surprise OPEC+ output cut.

Tribune News Service

Saudis to cut oil production by 500,000 barrels per day

Saudi Arabia says it will cut oil production by 500,000 barrels per day from May until the end of 2023

The Independent UK

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Aramco JV HAPCO Breaks Ground on New Refinery and Petrochemical Complex

A ground-breaking ceremony took place on Wednesday for a major integrated refinery and petrochemical complex being developed by Huajin Aramco Petrochemical Company (HAPCO). The joint venture between Aramco (30%), NORINCO Group (51%) and Panjin Xincheng Industrial Group (19%) is developing the complex in the city of Panjin, in China’s Liaoning…

Asharq Al-Awsat

Saudi Aramco to invest billions in Chinese petrochemicals

Saudi Arabia’s state-owned oil giant Aramco will invest billions of dollars in China’s downstream petrochemicals industry, including in the construction of a new refinery

The Independent UK

Aramco, Partners to Construct Major Refinery, Petrochemical Complex in China

Aramco and joint venture partners NORINCO Group and Panjin Xincheng Industrial Group plan to start constructing a major integrated refinery and petrochemical complex in northeast China. Huajin Aramco Petrochemical Company (HAPCO) is a joint venture between Aramco, NORINCO Group, and Panjin Xincheng Industrial Group. It is developing a complex that…

Asharq Al-Awsat

Aramco JV HAPCO to Commence Construction of Major Refinery, Petrochemical Complex in China

Saudi Aramco and joint venture partners NORINCO Group and Panjin Xincheng Industrial Group plan to start construction of a major integrated refinery and petrochemical complex in northeast China, Aramco said in a statement on Sunday. Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco (30%), NORINCO Group (51%) and…

Asharq Al-Awsat

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Aramco, DHL Announce End-to-End Procurement and Logistics Hub Joint Venture

Saudi Aramco and DHL Supply Chain have signed a shareholders’ agreement for a new Procurement and Logistics Hub in Saudi Arabia, to enhance supply chain efficiency and sustainability, Aramco said in a statement on Monday. According to Aramco, it would be the region’s first such hub catering to customers in…

Asharq Al-Awsat

Hamilton doesn't share other F1 drivers' views on Saudi GP safety

F1 heads back to Jeddah for the second race of the 2023 season this weekend, the first event after the 2022 edition was marred and nearly aborted following the threat of a drivers' strike in the aftermath of a Houthi missile strike on a nearby Aramco oil facility during practice.

Motorsport

Saudi state-owned oil giant sees record profit of $161bn

It comes as energy prices spiked following Russia’s full-scale invasion of Ukraine in February 2022

The Independent UK

Saudi Aramco’s $161bn profit is largest recorded by an oil and gas firm

Amnesty International hits out at ‘shocking’ annual figure reaped through sale of fossil fuel

The Guardian - UK

Four takeaways as oil giant Saudi Aramco reports a huge $161 billion profit

The world's biggest oil company has announced it made $161 billion in profits in 2022, a whopping figure for the corporation and its main shareholder, the Saudi government.

WEKU

Saudi Aramco reports 'record' $161 billion profit for 2022

RIYADH - Saudi Aramco said on Sunday it achieved "record" profits totalling $161.1 billion last year, drawing an outraged response from activists warning about the ravages of climate change.

Bangkok Post

Saudi Aramco Reports ‘Record’ $161 Billion Profit for 2022

Saudi Aramco said on Sunday it achieved "record" profits totalling $161.1 billion last year, its highest annual profits as a listed company. In a statement announcing 2022 results, Aramco said the achievements were "underpinned by stronger crude oil prices, higher volumes sold and improved margins for refined products, while the…

Asharq Al-Awsat

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The New Daily

Oil giant Saudi Aramco announces $US161 billion profit

Saudi Aramco has announced it earned a $US161 billion ($245 billion) profit last year, with higher crude oil prices propelling profits.

The Independent UK

Oil giant Saudi Aramco has profits of $161B in 2022

Oil giant Saudi Aramco says it earned a $161 billion profit last year

Asharq Al-Awsat

Seoul Seeks Aramco’s Help to Win Contracts of Saudi Giga Projects

South Korea's government intends to make its firms enter the Saudi market and win contracts to construct $500 billion worth of projects to develop smart and eco-friendly cities in NEOM, in the northwest of the Kingdom. The Export-Import Bank of Korea has announced the signing of a $6 billion framework…

Asharq Al-Awsat

Saudi Aramco Hikes Official Selling Prices of Arab Crude

Saudi Aramco has increased Official Selling Prices (OSPs) for April-loading crude to Asia, Europe, and America largely in line with expectations of oil demand recovery during the second quarter of 2023. For Aramco's key customer base in Asia, differentials for the flagship Arab Light grade were lifted to Platts Dubai/DME…

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Radio France Internationale

Saudi Arabia to invest in French-Chinese car joint venture

Oil giant Saudi Aramco is preparing to join carmakers Geely and Renault in a new joint venture in hybrid and internal-combustion vehicles.

Asharq Al-Awsat

Saudi Aramco Acquires Valvoline Inc. Global Products Business

The Saudi Arabian Oil Company (Aramco) has completed the acquisition of the Valvoline Inc. global products business (Valvoline Global Operations) for $2.65 billion, through one of its wholly-owned subsidiaries. With this acquisition, which follows the signing of an equity purchase agreement by the companies announced on Aug. 1, 2022, Aramco…

Asharq Al-Awsat

Aramco Inks Pact with Renault, Geely for Engine Venture

Saudi Aramco has agreed to take a minority stake in a new powertrain engine company that French car maker Renault SA and China's Geely Automobile Holdings Ltd plan to set up jointly, they said on Thursday. The new joint venture is aimed at developing more-efficient gasoline engines and hybrid systems.…

USA Today Sports Media Group

Lydia Ko played eight rounds of golf on her honeymoon and then opened with a 64 to co-lead the Saudi Ladies International

The World No. 1 fired an 8-under 64 in the opening round of the Aramco Saudi Ladies International to co-lead.

USA Today Sports Media Group

Vocal sportswashing critic Meghan MacLaren explains why she’s playing in Saudi Arabia, where the purse is one of the highest in women’s golf

Abstaining from events backed by the PIF would cripple an LET player’s chance to make a living.

Asharq Al-Awsat

Aramco Announces Strategic Partnership with Zoom, Increase in Funding for Wa’ed Ventures

Saudi Aramco announced on Monday a strategic partnership with Zoom and an increase in funding for Wa’ed Ventures. The announcements were made at the second edition of LEAP, a major international technology conference held annually in Saudi Arabia. The strategic partnership with Aramco aims to build Zoom’s first global data…

USA Today Sports Media Group

Should the Ladies European Tour merge with the LPGA? A vote on the matter has been delayed, but with Saudi money involved it’s complicated

“At the end of the day, money is power."

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