Aramco Archives - Page 3 of 6

Aramco CEO says Ukraine invasion has accelerated global energy crisis

March 8, 2022

US News Saudi Aramco CEO Amin Nasser said the “tragic situation unfolding in Ukraine” is making the global energy crisis worse, according to prepared remarks delivered at an industry conference Tuesday. Nasser, speaking at the CERAWeek energy in Houston, echoed other energy executives in saying that the crisis exposes the mixed signals delivered by policymakers to the oil-and-gas industry amid

Exclusive: Aramco pipeline investors to refinance loan with bonds next year – sources

April 15, 2021

Reuters DUBAI – EIG Global Energy Partners will lead a yet-unnamed consortium to issue billions of dollars in bonds across two or three transactions to replace bank debt backing an investment in Saudi Aramco’s oil pipeline assets, two sources said. The Washington, D.C.-based firm’s consortium will issue bonds to replace $10.5 billion in so-called staple financing that was arranged by

Saudi Aramco to use cash and debt to uphold dividends pledge amid reports of job cuts

June 18, 2020

CNBC 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 the coronavirus pandemic and lower oil prices. “It will be a combination of both,” Aramco CEO Amin Nasser told press during

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

January 29, 2020

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. Few details were given of the precise nature and timing of the attacks, and there was no immediate confirmation from

Saudi Aramco sends first blue ammonia shipment to Japan -oilandgas360

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

January 15, 2020

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 compare favorably. Like Saudi Arabia, Abu Dhabi’s economy was hit by a dramatic fall in oil prices in mid-2014, triggering

Saudi Arabia formally launches IPO of oil giant Saudi Aramco

November 4, 2019

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 the kingdom. An announcement from the kingdom’s Capital Market Authority serves as a starting gun for an IPO promised by

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

August 13, 2019

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 the market in recent months. The Chinese products include laptops and cellphones. The tariffs had been scheduled to start next

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

August 12, 2019

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 on Monday. The largest change is expected in the Permian Basin of Texas and New Mexico, where output is seen

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

August 12, 2019

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 at $58.57 a barrel, up 4 cents. West Texas Intermediate (WTI) futures settled at $54.93, up 43 cents. Investors were

Saudi Arabia and other key producers in OPEC signaled their intention to keep oil supplies constrained for the rest of the year, Oil & Gas 360

Saudis to Limit Oil Exports in September to Stabilize Market

August 8, 2019

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 officials. State-run Saudi Arabian Oil Co., known as Aramco, will cut customer allocations across all regions by a total of

Saudi Aramco Valuation Gap Persists as IPO Talks Resume – Sources

August 7, 2019

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 sources said. With Aramco talking again to banks about an initial public offering (IPO), its board is meeting later this

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

August 6, 2019

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 build a network of charging hubs for electric vehicles with China’s Didi Chuxing, betting on the world’s largest market for

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