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The Latest Breaking News from Saudi Aramco

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

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

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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

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

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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

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.

Reuters

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.

InsideEVs

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…

Benzinga

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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…

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

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…

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Asharq Al-Awsat

Saudi Aramco, Thailand’s PTT Sign MoU to Deepen Energy Cooperation

Saudi Aramco and Thailand’s PTT have signed a memorandum of understanding (MoU) to deepen energy cooperation in Thailand. The MoU targets the supply and trading of crude oil, petrochemicals, and liquified natural gas (LNG). It focuses on clean energy, carbon capture, and electric vehicles, and outlined potential collaboration across both…

The Guardian - UK

The Guardian view on carbon bombs: governments must say no

Editorial: Oil companies and petrostates are investing heavily in fossil fuels, in defiance of global targets. They must be stopped

Benzinga

Data Is The New Oil? Not Yet! Saudi Aramco Surpasses Apple To Become Most Valuable Company

Saudi Aramco has beaten Apple Inc (NASDAQ: AAPL) to become the most valuable company,

The Guardian - UK

Saudi Aramco overtakes Apple as world’s most valuable company

Soaring commodity prices swell oil giant’s profits as tech stock slide pegs back iPhone maker

The Guardian - UK

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

Asharq Al-Awsat

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…

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