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The Latest Breaking News from Saudi Aramco

Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown

Exclusive: Oil and gas majors are planning scores of vast projects that threaten to shatter the 1.5C climate goal. If governments do not act, these firms will continue to cash in as the world burns

The Guardian - UK

Fitch Upgrades Saudi’s PIF Outlook to ‘Positive’

Ratings agency Fitch on Friday revised the outlook on Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), to "positive" from "stable" following a similar action on the country. It also affirmed the PIF's rating at "A". Fitch had cited improvements in Saudi Arabia's balance sheet due to higher…

Asharq Al-Awsat

Saudi Aramco Raises Asia Official Selling Price

Saudi Aramco raised its May official selling price (OSP) to Asia for its flagship Arab Light crude to $9.35 a barrel above Oman/Dubai crude, its highest premium ever. Oil jumped more than 3 percent on Monday to $108 a barrel as the release of strategic reserves by consuming nations failed…

Asharq Al-Awsat

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US Imposes Sanctions on Key Actors in Iran’s Ballistic Missile Program

The United States on Wednesday imposed sanctions on an Iran-based man and his network of companies it accused of helping Tehran obtain materials for its ballistic missile program, acting after missile attacks by suspected Iranian-backed proxies on countries in the region. In a statement issued as talks on reviving the…

Asharq Al-Awsat

Konkan locals protest against proposed mega oil refinery project

Work on the stalled RRPCL project is set to resume at a new location in Ratnagiri

The Hindu

Arab Coalition: Act of Aggression Targets Aramco’s Bulk Plant in Jeddah

The Saudi-led Arab coalition said Friday that Saudi Aramco’s Bulk Plant in Jeddah was the target of an attack. Official Spokesperson of the Coalition to Restore Legitimacy in Yemen Brigadier General Turki Al-Malki said: "At 17:25, Saudi Aramco’s Bulk Plant in Jeddah was targeted with an act of aggression, the…

Asharq Al-Awsat

Saudi Aramco’s Jeddah oil depot hit by Houthi attack

Saudi Arabia announces ‘military operation’ in Yemen following series of drone and rocket attacks on the kingdom.

Al Jazeera

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Saudi Aramco Jeddah storage facility hit by attack - source

A Saudi Aramco storage facility has been hit by an attack in Jeddah, a source told Reuters.

Reuters

Inflation pressures hit consumer confidence; Moscow stock market falls back – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Saudi Aramco to increase oil production to meet global demand

Saudi Arabia’s state oil company also reports its net profit rose by 124% to $110bn (£83bn) in 2021

The Guardian - UK

Houthis target Aramco sites in Saudi Arabia using drones

Yemen’s Houthi rebels attacked at least six sites across Saudi Arabia late Saturday and early on Sunday, including some run by state oil giant Saudi Aramco.

Tribune News Service

Houthis target Aramco sites in Saudi Arabia using drones

Yemen’s Houthi rebels attacked at least six sites across Saudi Arabia late Saturday and early on Sunday, including some run by state oil giant Saudi Aramco.

Tribune News Service

Saudi Aramco 2021 Profit Soars, Plans Capex Boost in 2022

Saudi Arabian state oil giant Aramco on Sunday reported a more than doubling of annual net profit in 2021, boosted by higher oil prices, and announced plans to sharply lift capital expenditure in 2022. The oil giant has benefited from a more than 50% rise in crude prices last year,…

Asharq Al-Awsat

Saudi Aramco Awards Schlumberger Gas Drilling Project

Schlumberger announced on Tuesday a major contract award by Saudi Aramco for integrated drilling and well construction services in a gas drilling project. The integrated project scope encompasses drilling rigs and technologies and services, including drill bits, measurement while drilling (MWD) and logging while drilling (LWD), drilling fluids, cementing, and…

Asharq Al-Awsat

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Asharq Al-Awsat

Aramco Is Fast Closing In for Top Market Cap Spot

Oil giant Saudi Aramco is narrowing the gap with Apple Inc. for the title of the world’s most valuable company. Benefiting from oil prices hitting the highest since 2008, Aramco shares have jumped 15% in less than three weeks, giving it a market capitalization of over $2.3 trillion, Bloomberg reported.…

Asharq Al-Awsat

Saudi Stocks Rise after Kingdom Lifts COVID-19 Restrictions

Saudi Arabian shares closed higher on Sunday, tracking a rise in oil prices as the Kingdom lifted all COVID-19 restrictions, and the conflict in Ukraine intensified. Saudi Arabia's benchmark index ended up on a 0.4 percent rise, the highest peak recorded in July 2006, buoyed by petrochemical and energy stocks,…

Asharq Al-Awsat

Saudi Aramco Discovers Some New Natural Gas Fields

Saudi Aramco has discovered several new natural gas fields, the Saudi Press Agency reported on Sunday, citing Energy Minister Prince Abdulaziz bin Salman. The fields were found in the central area of the kingdom, in the Empty Quarter region, near northern border and in the eastern region, he said, according…

Asharq Al-Awsat

Global Consortium Acquires 49% of Aramco

Saudi Aramco announced that an international investor consortium, led by affiliates of BlackRock and Hassana, acquired a 49 percent stake in Aramco Gas Pipelines Company, a subsidiary of Aramco, for $15.5 billion. The consortium comprises leading institutional investors, including, amongst others, Keppel Infrastructure Trust, Silk Road Fund, and China Merchants…

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Asharq Al-Awsat

Saudi Aramco Shares Soar Over 4%

Shares in Saudi Aramco soared over 4 percent to an all-time closing high in Monday’s trading session on the Saudi stock exchange. Saudi Aramco rose 4.1 percent to a record closing high of 39.25 riyals ($10.4). Its market cap exceeded 7.8 trillion riyals ($2.1 trillion). Last week, Crown Prince Mohammed…

Asharq Al-Awsat

Saudi Aramco in Talks on More Investments in China

Oil giant Saudi Aramco is in talks with partners in China about further investments in the country, CEO Amin Nasser said on Monday. "China is an important part of Aramco's base," Nasser told reporters on the sidelines of a conference in Saudi Arabia. "And we are currently in discussions with…

Asharq Al-Awsat

Saudi Crown Prince Says 4% of Aramco Shares Moved to Sovereign Wealth Fund

Saudi Arabia's Crown Prince Mohammed bin Salman announced the transfer of 4% of Saudi Aramco shares to the Public Investment Fund, Saudi Arabia's sovereign wealth fund, state news agency SPA reported on Sunday. The Crown Prince said the state remains the largest shareholder in Saudi Aramco after the transfer process,…

Asharq Al-Awsat

Saudi Sukuk Issuance to Increase by 37 Percent

Saudi sukuk issuances increased by 37 percent during the past year on an annual basis, according to S&P Global Ratings. The announcement was made as the global credit rating agency, Moody’s, assigned the Public Investment Fund (PIF) with a first-time issuer rating of A1 and a scorecard indicated rating of…

Asharq Al-Awsat

Saudi Arabia Raises March Crude Prices to Asia

Saudi Aramco has raised prices for all crude grades it sells to Asia in March from February, in line with market expectations. The world's top oil exporter increased its March price for its Arab Light crude grade for Asian customers by 60 cents a barrel versus February to a premium…

Evening Standard

Saudi Aramco, the world’s biggest oil company, eyes London for $50 billion IPO

Saudi Arabia has restarted plans to list more shares of Aramco, according to people familiar with the company's strategy, with an ambition to sell as much as a $50 billion stake, which at current valuations would be 2.5% of the company.

Asharq Al-Awsat

Saudi Aramco Buys 7.4% Stake in Norwegian Software Firm Cognite

Saudi Aramco has bought a 7.4% stake in Norwegian industrial software group Cognite from oil firm Aker BP, Cognite said on Wednesday. The price for the stake was "around 1 billion Norwegian crowns," or about $113 million, an Aker BP spokesperson told Reuters, valuing Cognite at just over $1.5 billion.…

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