360 Digital Closing Bell 8-10-2020
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Post Tagged with: "Aramco"
Saudi Aramco to use cash and debt to uphold dividends pledge amid reports of job cuts
Saudi Aramco maintained its pledge to make good on its dividend payments, saying Thursday that it would mobilize cash and debt to fulfill the $18.75 billion payouts for the first quarter of this year despite taking a hit from …
Yemen’s Houthis say they fired at Aramco, other Saudi targets
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.…
As Aramco hails record IPO, Abu Dhabi’s ADNOC whips up $19 billion
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 …
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
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
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
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 …
Saudis to Limit Oil Exports in September to Stabilize Market
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
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
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
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?
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 …
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 …
Saudi Aramco Says It Can Keep Oil Flowing If Hormuz Disrupted
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
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 …
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 …
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 …
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 …
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 …
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
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 …
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 …
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.…
