Post Tagged with: "Aramco"

Source: Reuters

Yemen’s Houthis say they fired at Aramco, other Saudi targets

Reuters


DUBAI – Yemen’s Iran-aligned Houthi movement said on Wednesday it had fired rocket and drone strikes at Saudi targets including Aramco oil facilities, the group’s first claim of such attacks since it offered to halt them four months ago.…

Source: Reuters

As Aramco hails record IPO, Abu Dhabi’s ADNOC whips up $19 billion

Reuters


Dubai – The talk’s all been about Saudi Aramco, and the suspense of its historic drive to whip up international cash. But, more quietly, its Gulf oil peer ADNOC has also been courting foreign funds – and its efforts …

January 15, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Saudi Arabia formally launches IPO of oil giant Saudi Aramco

Saudi Arabia formally launches IPO of oil giant Saudi Aramco

Saudi Arabia formally started its long-anticipated initial public offering of its state-run oil giant Saudi Aramco on Sunday, which will see a sliver of the firm offered on a local stock exchange in hopes of raising billions of dollars for …

Oil Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods

Oil Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods

From Reuters


Oil prices on Tuesday jumped by the most so far this year after the United States said it would delay imposing a 10% tariff on certain Chinese products, easing concerns over a global trade war that has pummeled …

U.S. Shale Oil Output to Rise to Record 8.77 Million bpd in Sept – EIA

U.S. Shale Oil Output to Rise to Record 8.77 Million bpd in Sept – EIA

From Reuters


U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report …

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

From Reuters


Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war.

International benchmark Brent crude settled …

OPEC keeps curbs - Saudi Arabia Minister of Energy Khalid Al-Falih - Oil & Gas 360

Saudis to Limit Oil Exports in September to Stabilize Market

From The Houston Chronicle


Saudi Arabia plans to keep oil exports below 7 million barrels a day next month as OPEC’s biggest producer allocates less crude than customers demand in a bid to stabilize the market, according to the kingdom’s …

Saudi Aramco Valuation Gap Persists as IPO Talks Resume – Sources

Saudi Aramco Valuation Gap Persists as IPO Talks Resume – Sources

From Reuters


Saudi Crown Prince Mohammed Bin Salman is insisting on a $2 trillion valuation of oil firm Aramco, even though some bankers and company insiders say the kingdom should trim its target to around $1.5 trillion, industry and banking …

BP to Enter India’s Fuel Retail Market with Reliance Tie-Up

BP to Enter India’s Fuel Retail Market with Reliance Tie-Up

From Reuters


Global oil major BP is deepening its ties with Indian conglomerate Reliance Industries by forging a fuel retailing joint venture to capitalize on rising demand in Asia’s third-biggest economy.

The move comes days after BP said it would …

Old Habits Die Hard: Saudi Arabia Struggles to End Oil Addiction

Old Habits Die Hard: Saudi Arabia Struggles to End Oil Addiction

From Reuters


When Saudi Aramco was on the verge of a deal last year to buy a stake in an Indian oil refinery, its boss quickly boarded a company jet in Paris and flew to New Delhi.

Chief executive Amin …

How Big is Saudi Aramco?

How Big is Saudi Aramco?

By Tyler Losier, Energy Reporter, Oil & Gas 360


The staggering size of Aramco: Saudi Arabia’s state-owned oil company

In 1933, the government of Saudi Arabia signed a concession agreement with the Standard Oil Company of California, creating an entity …

Source: Saudi Aramco

Aramco to Increase Oilfield Production Capacity by 500,000 BOPD

By Tyler Losier, Energy Reporter, Oil & Gas 360

Marjan and Berri oilfields to increase capacity by 550,000 BOPD, 2.5 BSCFD of gas
Saudi Aramco, the state oil company of Saudi Arabia, has awarded 34 contracts worth $18 billion for

Saudi-Russian Oil Fling Becomes a Marriage to Last an ‘Eternity’

Saudi-Russian Oil Fling Becomes a Marriage to Last an ‘Eternity’

From Bloomberg


Nine-month extension takes output cuts into a fourth year, countries approve new charter formalising OPEC+ grouping

It was supposed to be a six-month fling, but Saudi Arabia and Russia have instead signed up for eternity.

Complete with poem …

Source: Saudi Aramco

Saudi Aramco to Collaborate With S-Oil on $6 Billion Steam Cracker

By Tyler Losier, Energy Reporter, Oil & Gas 360

Inauguration of new facilities includes MoU to build new cracker by 2024
Saudi Aramco joined South Korea’s S-Oil this week to inaugurate the latter company’s new petrochemical facilities: the residue upgrading

Source: Saudi Aramco

Saudi Aramco Signs 12 Agreements Worth Billions

By Tyler Losier, Energy Reporter, Oil & Gas 360

Aramco looks to expand its South Korean presence
Saudi Aramco has signed a series of 12 different agreements with a variety of South Korean companies in order to expand its international

Source: Data Gumbo

GE Oil & Gas Alum Joins Tech Company as CCO

By Tyler Losier, Energy Reporter, Oil & Gas 360

Sergio A. Tuberquia joins Data Gumbo as chief commercial officer
Data Gumbo, a blockchain-as-a-service (BaaS) company based in Houston, has tapped Sergio A. Tuberquia for the position of chief commercial officer.

Source: Islamic Republic News Agency

Saudi Aramco Says It Can Keep Oil Flowing If Hormuz Disrupted

From The Houston Chronicle


Saudi Arabian Oil Co. has the experience and infrastructure it needs to keep crude flowing should supply through the Strait of Hormuz be disrupted, according to the chief executive officer of the state-run producer.

“We are …

Saudi Aramco Sees Shale Gas as Kingdom’s Next Energy Bonanza

Saudi Aramco Sees Shale Gas as Kingdom’s Next Energy Bonanza

From Bloomberg

The world’s biggest oil exporter is ramping up efforts to develop natural gas with plans for a 15-fold boost in output from unconventional deposits of the fuel.

Saudi Aramco is building facilities to tap shale gas in the …

April 29, 2019 - 5:16 pm Closing Bell Story‎, Energy News, Natural Gas News
Saudi Aramco Sells First LNG as Oil Behemoth Expands Into Gas

Saudi Aramco Sells First LNG as Oil Behemoth Expands Into Gas

From Bloomberg

Saudi Aramco, the world’s biggest oil exporter, dipped a toe into the natural gas business by selling its first cargo of the fuel.

Aramco sold the shipment of liquefied natural gas from Singapore, Chief Executive Officer Amin …

April 25, 2019 - 4:08 pm Closing Bell Story‎, Energy News, LNG, Natural Gas News
Saudi Aramco’s Quest to Become the World’s Biggest Oil Consumer

Saudi Aramco’s Quest to Become the World’s Biggest Oil Consumer

From Bloomberg

Saudi Aramco is well known as the world’s top crude exporter. If all goes to plan, it may also become the biggest user of the fossil fuel.

More than a third of Aramco’s oil is currently fed into …

April 11, 2019 - 4:20 pm Closing Bell Story‎, Crude Oil News, Energy News
Amin Nasser, President and CEO of Saudi Aramco

The $100 Billion Man: Aramco CEO Delivers Record-Breaking Bond

From Bloomberg

When Amin Nasser met investors at the palatial St. Regis hotel in midtown Manhattan last week, the chief executive officer of the world’s biggest oil company had one clear message: we’re in a league of our own.

After …

April 11, 2019 - 12:14 pm Closing Bell Story‎, Energy News
The Monster Aramco Bond Offering May Have Just Doomed the Saudi Oil Giant’s IPO

The Monster Aramco Bond Offering May Have Just Doomed the Saudi Oil Giant’s IPO

From CNBC

Aramco’s hugely successful bond offering on Tuesday may be the final nail in the coffin for the Saudi oil giant’s much-anticipated and long-delayed stock market debut.

Just three years ago, the Saudis cast the initial public offering for …

April 10, 2019 - 4:10 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Aramco Sells $12 Billion Bonds Out of Record $100 Billion Demand

Aramco Sells $12 Billion Bonds Out of Record $100 Billion Demand

From Reuters

Saudi Aramco is set to raise $12 billion with its first international bond issue after receiving more than $100 billion in orders, a record breaking vote of market confidence for the oil giant which has faced investor concerns …

Aramco Order Book at $60 Billion for Dollar-Bond Sale

Aramco Order Book at $60 Billion for Dollar-Bond Sale

From Bloomberg

Saudi Aramco, the world’s largest oil company, has received $60 billion in orders for its debut bond sale, kickstarting an offering with yields likely to fall in line or below Saudi Arabia’s sovereign debt.

It’s rare for …

April 8, 2019 - 5:25 pm Closing Bell Story‎, Crude Oil News, Energy News
If You Were Looking for $86 Billion In Free Cash Flow

If You Were Looking for $86 Billion In Free Cash Flow

Aramco’s bond prospectus lifts the tent on unrivalled metrics
By Richard Rostad, analyst, Oil & Gas 360

Saudi Aramco’s bond prospectus, released this week, provides a wealth of information on the largest oil company in the world.

Stretching nearly 470

Aramco Unveils Financial Secrets of World’s Most Profitable Firm

Aramco Unveils Financial Secrets of World’s Most Profitable Firm

From Bloomberg

The first official glimpse of Saudi Aramco’s financial performance confirms the state-run oil giant can generate profit like no other company on Earth: net income last year was $111.1 billion, easily outstripping U.S. behemoths including Apple Inc. and …

April 1, 2019 - 5:15 pm Closing Bell Story‎, Crude Oil News, Energy News
Muhammad bin Salman, Deputy Crown Prince of Saudi Arabia
Photo Credit: The Economist

Aramco’s Accounts Show $2 Trillion Valuation Remains a Challenge

From Bloomberg

Saudi Aramco may be the world’s most profitable company, but that likely still won’t be enough to persuade investors the energy behemoth is worth $2 trillion.

New financial details, disclosed today by Moody’s Investors Service, show a company …

April 1, 2019 - 4:57 pm Closing Bell Story‎, Crude Oil News, Energy News
Aramco Bond Sale So Popular That Yield Premium May Be Near Zero

Aramco Bond Sale So Popular That Yield Premium May Be Near Zero

From Bloomberg

The demand for Saudi Aramco’s debut issue of debt is so strong that the world’s largest oil producer may need to offer only a small premium to the kingdom’s bonds. Even that spread may vanish, some investors say.…

Saudi Aramco Gets 5th-Highest Investment Rating; Starts Roadshow

Saudi Aramco Gets 5th-Highest Investment Rating; Starts Roadshow

From Bloomberg

Saudi Aramco obtained the fifth-highest investment grade rating at both Moody’s Investors Service and Fitch Ratings as the world’s largest oil producer prepares for its debut dollar bond offering.

Moody’s rated the oil giant at A1, while Fitch …

April 1, 2019 - 4:23 pm Closing Bell Story‎, Crude Oil News, Energy News
Aramco Plans $10 Billion Bond, Casting Light on Its Finances for First Time

Aramco Plans $10 Billion Bond, Casting Light on Its Finances for First Time

From The Wall Street Journal

Saudi Aramco plans to issue a $10 billion bond as early as next week to help fund its acquisition of a majority stake in Saudi Arabia’s petrochemicals firm, people familiar with the matter said, shining …

March 28, 2019 - 5:19 pm Closing Bell Story‎, Crude Oil News, Energy News