Post Tagged with: "Saudi Aramco"

Source: Reuters

Saudi Aramco to press ahead with plan to boost output capacity, CEO says

Reuters


DUBAI/RIYADH (Reuters) – Saudi Aramco (2222.SE) is moving ahead with plans to boost crude output capacity by 1 million barrels per day (bpd) to 13 million bpd despite cuts in capital expenditure this year and next year, …

August 10, 2020 - 10:01 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: CNBC

Saudi Aramco completes $69 billion Sabic deal, extends payment window amid oil hit

CNBC


Saudi Aramco completed the purchase of its 70% stake in the kingdom’s petrochemical giant Sabic from the Saudi Public Investment Fund, it announced Wednesday, tying the knot on one of the largest ever deals in the global chemicals industry.…

Source: Reuters

Graphic: Oil majors cut 2020 spending by 22% after prices slump

Reuters


LONDON- The world’s biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia …

Source: Houston Chronicle

Saudis slash oil prices in Asia as virus causes demand shock

Houston Chronicle


Saudi Arabia’s state oil company made deep cuts to the price of crude it sells to Asia, where an outbreak of the coronavirus has caused a slump in demand.

Saudi Aramco lowered most of its official selling price …

Source: Houston Chronicle

Aramco, Lebanon, Gulf Oil: A guide to Middle East risks in 2020

Houston Chronicle


If 2019 was the year when a clutch of Middle East markets burst into the mainstream, then 2020 will test whether the foreign money keeps flooding in.

The year opened with five Gulf Arab economies joining JPMorgan Chase …

December 19, 2019 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, International
Exclusive: Saudi Aramco pursues war cover after attacks – sources

Exclusive: Saudi Aramco pursues war cover after attacks – sources

Reuters


LONDON/RIYADH – Saudi Aramco is looking to buy insurance against war and terror attacks after a damaging drone and missile attack on some of its oil facilities in September, two sources told Reuters.

Aramco, the world’s largest oil company, …

December 4, 2019 - 2:00 pm Closing Bell Story‎, Energy News, International
Saudi Aramco in race for IPO record with $1.7 trillion top value

Saudi Aramco in race for IPO record with $1.7 trillion top value

Reuters


DUBAI- Saudi Aramco is worth up to $1.7 trillion at the price range set by the oil giant on Sunday, below the $2 trillion sought by Saudi’s crown prince but putting it in the running to become the world’s …

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 …

Source: Reuters

Aramco meets investors in last-minute bid to hit $2 trillion IPO target: sources

Source: Reuters


DUBAI (Reuters) – Saudi Aramco officials and advisers are holding last-minute meetings with investors in an attempt to achieve as close to a $2 trillion valuation as possible ahead of an expected listing launch on Sunday, according to …

Saudi Aramco’s IPO coming soon: energy minister

Saudi Aramco’s IPO coming soon: energy minister

S&P Global Platts


The initial public offering of Saudi Aramco — the company that is preparing to sell up to a 5% stake — will happen soon, the country’s energy minister said on Wednesday.

Saudi Aramco's IPO coming soon: energy minister - oil and gas 360

The Aramco IPO is “going to …

October 30, 2019 - 7:55 am Closing Bell Story‎, Energy News, International
Saudi Aramco to list shares on local exchange on Dec 11: report

Saudi Aramco to list shares on local exchange on Dec 11: report

S&P Global Platts


Saudi Aramco, the state-owned company seeking to sell up to a 5% stake in an IPO, will list its shares on the local Saudi exchange on December 11, with a final price for the flotation set to …

October 29, 2019 - 7:50 am Closing Bell Story‎, Energy News, Finance
Source: Reuters/Maxim Shemetov

Saudi Aramco delays planned IPO to allow for earnings update: sources

Source: Reuters


DUBAI/RIYADH (Reuters) – Saudi Aramco (IPO-ARMO.SE) has delayed the planned launch of its initial public offering (IPO), as the giant oil company wants to update investors with its latest earnings before proceeding, two sources familiar with …

Source: Reuters

One month after worst oil-supply halt, Aramco says all clear

Source: Houston Chronicle


In the early hours of a sweltering Saturday in September, a volley of missiles pierced the heart of Saudi Arabia’s oil industry, knocking out 5% of global production. A month later, it’s as if the attack never …

Attacks on Saudi Aramco have no impact on IPO plans: CEO

Attacks on Saudi Aramco have no impact on IPO plans: CEO

Source: Reuters


LONDON (Reuters) – Saudi Aramco’s chief executive said on Wednesday there would be no impact on the stock market listing plans of the state oil giant after attacks on its installations last month, which he blamed on Iran.…

October 11, 2019 - 2:00 pm Closing Bell Story‎, Energy News, Finance, International
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 …

Saudi Aramco Met with Investment Banks in Prep for IPO Restart

Saudi Aramco Met with Investment Banks in Prep for IPO Restart

From Bloomberg

Saudi Arabia is restarting preparations for a potential initial public offering of oil giant Aramco, months after putting the planned listing on hold, people familiar with the matter said.

Aramco, the world’s most profitable company, recently held …

July 3, 2019 - 6:32 am Closing Bell Story‎, Energy News, Finance
We Will Retain Production Cuts Nine More Months: OPEC+

We Will Retain Production Cuts Nine More Months: OPEC+

I have no doubt U.S. shale will peak, plateau and decline

By Bevo Beaven, Editor, Oil & Gas 360

At today’s press conference following OPEC’s annual meeting in Vienna, Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid Al-Falih, …

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

Saudi Aramco Expands While Oil Retreats

Saudi Aramco Expands While Oil Retreats

From Bloomberg

According to Khalid Al-Falih, Saudi Arabia’s energy and industry minister and chairman of Saudi Arabian Oil Co., “the world is going to be Saudi Aramco’s playground.” If it is, then that will be partly because some others have …

February 14, 2019 - 6:33 pm Closing Bell Story‎, Crude Oil News, Energy News
Saudi Aramco Looks for Multi-Billion-Dollar U.S. Gas Acquisitions: CEO

Saudi Aramco Looks for Multi-Billion-Dollar U.S. Gas Acquisitions: CEO

Saudi Aramco Looks for Multi-Billion-Dollar U.S. Gas Acquisitions: CEO

From Reuters

Saudi Aramco, the world’s top oil producer, is looking to acquire natural gas assets in the United States and is willing to spend “billions of dollars” there as it …

Aramco Signs $27.5 Billion in MOUs with Suppliers

Aramco Signs $27.5 Billion in MOUs with Suppliers

Part of Saudi Aramco’s “In Kingdom Total Value Add” program requires every supplier to participate in the kingdom’s localization strategy whereby Aramco is building its own “in-house” supply chain. Participation in the annual program is mandatory. Aramco’s goal is “70 …

November 26, 2018 - 12:40 pm Closing Bell Story‎, Energy News
Saudi Aramco IPO Timeline Shifted by SABIC Acquisition

Saudi Aramco IPO Timeline Shifted by SABIC Acquisition

From Reuters

Saudi Aramco’s potential acquisition of a stake in petrochemicals maker SABIC would affect the timeframe of its own planned initial public offering, the firm’s chief executive, Amin Nasser, said in a TV interview.

The offering is the centerpiece …

July 23, 2018 - 12:40 pm Closing Bell Story‎, Energy News, International