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The Latest Breaking News from Saudi Aramco

Saudi Aramco Announces $1.5 Bln Sustainability Fund

Saudi Aramco announced on Wednesday the creation of a $1.5 billion Sustainability Fund to invest in technology that can support a stable and inclusive energy transition. It was unveiled at the sixth edition of the Future Investment Initiative (FII) and is among the largest sustainability-focused venture capital funds globally. Managed…

Asharq Al-Awsat

Brit oil boss reveals how he was JAILED in India after being caught with satellite phone

Fergus MacLeod, who works for the oil company Saudi Aramco, says he spent a week locked up in an Indian jail alongside some 'very serious' convicts after accidently breaching the country's strict rules.

Daily Mirror

British businessman jailed after ‘taking phone to Himalayan yoga retreat’

Oil executive spent one week in jail

The Independent UK

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Elon Musk says Tesla will be bigger than Apple. Analysts say not so fast

Elon Musk sees Tesla Inc. becoming bigger than the combined valuation of Apple Inc. and Saudi Aramco one day. Wall Street is saying, not so fast.

Tribune News Service

Tesla Could Be Worth More Than Apple, Saudi Aramco Combined: Musk

Elon Musk says the path to reach a $4.4 trillion valuation will be very difficult and require incredible execution, massive amount of hard work and some luck.

InsideEVs

Elon Musk Says Tesla Can Exceed Market-Cap Of 'Apple And Saudi Aramco Combined;' Addresses Buyback, Cheaper Model Outselling All Vehicles And More At Q3 Earnings Call

Tesla Inc.’s (NASDAQ: TSLA) third-quarter results fell short of topline expectations and the stock reacted with a move to the downside.

Benzinga

Aramco Establishes 2 Offshore Fabrication Yards in Collaboration with Int’l Partners

Saudi Aramco, in collaboration with international partners, is establishing two offshore fabrication yards that aim to deliver a more than 200 percent increase in Saudi Arabia’s offshore fabrication capacity, announced the company on Monday. The new yards are being constructed in Ras Al Khair in collaboration with National Petroleum Construction…

Asharq Al-Awsat

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Kwasi Kwarteng held undisclosed meetings with Saudi oil firms

Green MP Caroline Lucas urges chancellor to ‘come clean about dealings with Saudi oil giants’

The Independent UK

Documents reveal Kwasi Kwarteng's undisclosed meetings with Saudi Arabian oil firms

CHANCELLOR Kwasi Kwarteng held undisclosed meetings with senior executives of Saudi Arabian firms when he was business secretary, according to…

The National (Scotland)

Kwasi Kwarteng’s secret meetings with Saudi oil firms revealed

Exclusive: Meetings while in Saudi Arabia undisclosed due to ‘administrative oversight’, says business department

The Guardian - UK

Brisbane 2032 Olympics organiser defends sitting on board of fossil fuel company

Andrew Liveris says his position at Saudi Aramco means he ‘knows the solutions’ as he presides over climate-positive games

The Guardian - AU

Saudi Aramco Urges World Unity around New Energy Transformation Plan

President and CEO of Saudi Aramco, Amin bin Hassan Nasser, emphasized the need for a more reliable energy transition plan, in a keynote speech on Tuesday at the Schlumberger Digital Forum. In his speech, Nasser underlined the importance of achieving a new global consensus of views and positions, outlining three…

Asharq Al-Awsat

Saudi Aramco chief says Europe’s plans on energy crisis are not helpful

Amin Nasser says plans to cap bills and tax energy companies are not long-term solutions

The Guardian - UK

Global AI Summit in Riyadh Sees Launch of Center Focused on Facing World Challenges

The Second Global Artificial Intelligence (AI) Summit, underway in Riyadh, witnessed Tuesday the launch of Tammayuz center, which belongs to the “Global AI Corridor” launched by Saudi Aramco in partnership with Beyond Limits, a US-based artificial intelligence company. The center was floated in cooperation with the California Institute of Technology…

Asharq Al-Awsat

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The Guardian - UK

Big oil and Opec are holding the world to ransom – it’s time to rein them in

The UN’s call for windfall taxes must be taken up by governments to help break the power of greedy cartels

Bangkok Post

Saudi Arabia cuts oil prices for Asia, Europe

Saudi Arabia cut oil prices for customers in Asia and Europe as Covid-19 lockdowns and sagging economies cool energy demand in the two regions.

Benzinga

Could The Rise Of Natural Gas Demand Lead To A Cease-Fire In Ukraine? Former Saudi Aramco Vice President Thinks So

Dr. Sadad Al Husseini, the former executive vice president of Saudi Aramco and founder of Husseini Energy, a Saudi Arabian energy company, was on CNBC Monday commenting about natural gas supply and demand and the effect of sanctions on Russia and the global economy.

The Guardian - UK

Middle East states in line for $1.3tn windfall from extra oil revenues

IMF says it expects region’s oil and gas exporters to benefit from high prices over next four years

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The Guardian - UK

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

WEKU

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.

Bangkok Post

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.

Asharq Al-Awsat

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…

The Independent UK

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

Asharq Al-Awsat

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…

Sports Illustrated

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

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

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