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The Latest Breaking News from Saudi Aramco

Saudi Aramco profits soar by 90% as energy prices rise

The $48bn figure from world’s biggest oil firm is thought to be one of largest quarterly profits in history

The Guardian - UK

Saudi Aramco unveils record profits as oil prices soar

Riyadh (AFP) - Oil giant Saudi Aramco on Sunday unveiled record profits of $48.4 billion in the second quarter of 2022, after Russia's war in Ukraine and a post-pandemic surge in demand sent crude prices soaring.

AFP

Your price at the pump went up. So did Saudi Aramco's profits — to a new record

Saudi energy company Aramco said Sunday its profits jumped 90% in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion.

WEKU

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Saudi Aramco unveils record $48.4 billion profit in Q2

AFP

Saudi Arabia raises oil prices for Asia to record levels

Saudi Arabia raised oil prices for buyers in Asia to record levels, a sign the world’s largest exporter sees the region’s market remaining tight.

Bangkok Post

Aramco Agrees to Acquire Valvoline’s Global Products Business

Saudi Aramco announced on Monday the signing of an equity purchase agreement to acquire Valvoline Inc. global products business (“Valvoline Global Products” or “VGP”) for US$2.65 billion. The transaction is subject to certain customary adjustments set forth in the equity purchase agreement. Valvoline Global Products is a leading worldwide independent…

Asharq Al-Awsat

Valvoline to sell its global products arm to Saudi's Aramco

Saudi Aramco has announced a $2.65 billion agreement to acquire Valvoline’s global products business, which includes motor oils, transmission fluids, coolants and other automotive maintenance products

The Independent UK

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Aramco Expands Namaat Industrial Investment Programs

Saudi Aramco announced on Tuesday a major expansion of its Namaat industrial investment programs, with 55 agreements and Memoranda of Understanding (MoUs) across the sustainability, digital, industrial, manufacturing and social innovation sectors. Namaat, which has grown from 32 to 55 investments since last year, supports industrial investment partnerships, helping to…

Asharq Al-Awsat

F1 Will Have Sustainable Fuel by 2026, Part of Carbon Neutral Plan

The sport pledged in 2019 to be net-zero carbon by ’30.

Sports Illustrated

Saudi Aramco, Cognite Join Forces in New Data Venture

Saudi Aramco and Cognite have launched CNTXT, a joint venture based in Riyadh to support industrial digitalization of the Kingdom and the wider MENA region. CNTXT will provide digital transformation services enabled by advanced cloud solutions and leading industrial software.

Asharq Al-Awsat

Vettel Calls Out ‘Climate Crime’ Ahead of F1’s Canadian GP

The Aston Martin driver was seen wearing a shirt that highlighted “Canada’s climate crime” of mining tar sands.

Sports Illustrated

Vettel highlights Canada’s oil sands “climate crime” with new F1 helmet

Sebastian Vettel is using the Formula 1 Canadian GP weekend to flag what he calls the country’s “climate crime” by wearing a special helmet.

Autosport

Vettel highlights Canada’s oil sands “climate crime”

Sebastian Vettel is using the Formula 1 Canadian GP weekend to flag what he calls the country’s “climate crime” by wearing a special helmet.

Motorsport

Non-government Members Appointed on Saudi Central Bank’s Board

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, has agreed to appoint five non-government members to the Board of Directors of the Saudi Central Bank to lead the Kingdom’s financial sector. Sheila Al-Rowaily, who worked with Saudi Aramco, has become the first woman to join the board…

Asharq Al-Awsat

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Reuters

Saudi Arabia hikes July crude prices surprisingly high for Asia buyers

Saudi Arabia, the world's top oil exporter, raised July crude oil prices for Asian buyers to higher-than-expected levels amid concerns about tight supply and expectations of strong demand in summer.

InsideEVs

Elon Musk Reveals Tesla's Main Rival, And It's Not An Automaker

Musk has noted in the past that Tesla's rivals aren't competing EVs, but rather, gas-powered cars. Now, he takes that reasoning a huge step further.

The Street

Elon Musk Names Tesla's Real Rival

Apple? GM? Porsche? Ford? The most important rival of electric-vehicle manufacturer Tesla is not necessarily the one most people think.

Benzinga

Google Cloud Chief Clarifies Aramco Deal Is Not For Oil Production

Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Cloud head Thomas Kurien clarified that its deal with oil giant Saudi Aramco did not include oil production, Bloomberg reports. “We work with Aramco system integration division, not with the oil-and-gas division,” Kurian said. Google’s critics, including its employees, have claimed that providing cloud tools to oil-and-gas…

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Asharq Al-Awsat

Aramco CEO Warns of Global Oil Crunch Due to Lack of Investment

The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green energy pressures, the head of Saudi Aramco told Reuters, adding it cannot expand production capacity any faster than promised. Amin Nasser, head of the world's largest oil…

Investors Business Daily

Valaris, IBD Stock Of The Day, Flaunts Bullish Pattern, Deals With Oil Giant Saudi Aramco

Valaris stock eyes a 350% earnings jump. VAL has rallied with oil prices, deals with oil giant Saudi Aramco.

The Guardian - UK

Saudi oil giant Aramco reports 82% rise in quarterly profits

Investors to get $4bn in bonus shares after record earnings of $39.5bn on higher demand and crude prices

AFP

Saudi Aramco says Q1 profits jump 82% as oil prices surge

Riyadh (AFP) - Saudi Aramco on Sunday posted an 82-percent jump in first quarter profits, buoyed by a global surge in oil prices that has made it the world's most valuable company.

The Independent UK

Saudi oil giant Aramco's first-quarter profits surge 80%

Oil giant Saudi Aramco says its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and soaring oil prices following Russia’s invasion of Ukraine

Asharq Al-Awsat

Saudi Aramco's First-quarter Profits Surge 80%

Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year. The state-backed company’s first-quarter earnings show a record net income of $39.5 billion, up from $21.7 billion during the same period last year. Already, resurgent economic activity and the relaxation…

The Street

Apple Loses A Major Title

The iPhone and Mac maker has suffered in recent days from the stock market rout.

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