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The Latest Breaking News from Saudi Aramco

Saudi Aramco Says Quarterly Profit Drops 15% On Low Oil Prices

Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on Tuesday, citing low oil prices.

International Business Times

Female players urge Fifa to rethink sponsorship deal with Saudi oil giant

World football's governing body Fifa came under pressure on Monday to reconsider a sponsorship deal with the Saudi Arabian oil firm Aramaco after it received an open letter from 106 female football players from 24 countries including France, Denmark and the United States.

Radio France Internationale

In this year’s Global 500 list: Energy woes, retail gains, and boom times for AI and weight-loss drugs

It’s the first year since 2018 that there are more U.S. companies represented than those from Greater China.

Fortune

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Meet this year's Fortune Global 500

Walmart sits at the top of Fortune's list of the world's largest companies by revenue. Amazon is No. 2. Saudi Aramco, at No. 4, is the most profitable.

Fortune

Crude Erases Early Gains and Settles Lower on Energy Demand Concerns

August WTI crude oil (CLQ24 ) on Friday closed down -0.72 (-0.86%), and Aug RBOB gasoline (RBQ24 ) closed down -4.22 (-1.62%). Crude oil and gasoline prices Friday gave up early gains and closed moderately lower. Crude prices retreated Friday on US energy demand concerns after the June payroll report...

Barchart

Can Elon Musk Make Tesla Stock More Valuable Than Nvidia With AI Products?

Tesla's CEO Elon Musk believes that the Optimus humanoid could add $25 trillion to TSLA’s market cap. Can Tesla beat out Nvidia, Apple, and Microsoft to become the world's biggest company?

Barchart

Saudi Aramco's AI push: Why the world's biggest oil company is spending big on GenAI

The world's biggest oil and gas company is sinking its profits into LLMs to make drilling more efficient—and to prepare itself for a future after peak oil.

Fortune

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Stanford disappoints critics of fossil fuel donations by hiring PR firm with big oil ties

University hires Brunswick Group amid anger from campus organizers at its sustainability school’s funding

The Guardian - US

As Investment Drive Falters, Saudi Milks Aramco 'Cash Cow'

A fresh offering of shares in Saudi Aramco, the Gulf kingdom's largely state-owned oil behemoth, comes at a pivotal moment for sweeping economic reforms that have struggled to lure foreign investment.

International Business Times

Oil giant Saudi Aramco offers a second stock tranche worth billions of dollars

Saudi Arabia says it will sell a second sliver of stock in its state oil giant Aramco worth billions of dollars, its first tranche since its initial public offering back in 2019

The Independent UK

Oil Giant Aramco To Offer Shares Worth Over $10 Bn On Saudi Bourse

Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion in one of the biggest such offerings in recent years.

International Business Times

Saudi Aramco says it can reach 'net zero' without producing less oil. Can it really thread that needle?

Inside the tricky balancing act at Saudi Aramco, the world's most profitable company and biggest oil producer.

Fortune

Saudi Aramco Says Q1 Profit Down 14.5 Percent

Oil giant Saudi Aramco said Tuesday its first-quarter net profit dipped 14.5 percent on year to $27.27 billion as the Gulf kingdom kept production cuts in place.

International Business Times

Just 57 companies linked to 80% of greenhouse gas emissions since 2016

Analysis reveals many big producers increased output of fossil fuels and related emissions in seven years after Paris climate deal

The Guardian - UK

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International Business Times

Saudi Aramco CEO Calls Energy Transition Strategy A Failure

Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure on Monday.

International Business Times

No Oil And Gas Majors Aligned With Climate Targets: Report

All major oil and gas companies plan fossil fuel expansion incompatible with limiting warming to 1.5 degrees Celsius, a new report said Wednesday.

Top News

Carboncapture Secures M Funding From Saudi Aramco And Others

CarbonCapture secures million funding from Saudi Aramco to develop carbon capture solutions and combat climate change.

Top News

Aramco Eyes More Investments As China Demand Grows

Saudi Aramco eyes growth in China, aligning with diversification strategy to capitalize on emerging opportunities.

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Top News

Saudi Arabia Transfers 8% Of Aramco To PIF Portfolio

Saudi Arabia transfers 8% of Saudi Aramco to PIF, signaling economic diversification and growth strategy.

The Guardian - US

‘A Trojan horse of legitimacy’: Shell launches a ‘climate tech’ startup advertising jobs in oil and gas

Onward touts a vision of a ‘clean energy future’, but experts say ventures like this are part of fossil fuel firms’ greenwashing plan

Top News

Saudi Aramco Maintains 12 Million Barrel/day Output Amid Falling Prices

Saudi Aramco, the world's largest oil company, announces it will maintain its maximum daily oil production at 12 million barrels, instead of increasing it ...

The Guardian - UK

Boeing shares fall 9% after mid-flight Alaska Airlines accident involving 737 Max 9 – as it happened

Rolling coverage of the latest economic and financial news, as Boeing shares fall after 171 of its 737 Max 9 aircraft are grounded by US regulators

Barchart

Apple, Microsoft, or Tesla: Which Will Be the First $5 Trillion Company?

While Apple is currently the biggest publicly traded company, with a market cap of $3 trillion, Microsoft is also in the race to become the first $5 trillion company.

The Independent UK

At UN Climate talks, oil companies pledge to combat methane; Environmentalists call it "smokescreen"

Fifty oil companies representing nearly half of global production have pledged to reach near-zero methane emissions and end routine flaring in their operations by 2030, the president of this year’s U_N_ climate talks said Saturday, a move that environmental groups called a “smokescreen.”

International Business Times

COP28 Puts Spotlight On State Oil Giants

Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but a less visible lineup of powerful state companies dominates the industry.

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