World Oil Aramco, which last week surpassed Apple Inc. to become the world’s most valuable company, followed Big Oil rivals such as Shell Plc and BP Plc in reporting bumper earnings for the first quarter. Like them, the Saudi Arabian firm’s results were boosted by crude’s jump to $110 a barrel after Moscow’s attack in late February. State-controlled Aramco made net income of $39.5
CNBC Amin Nasser, the chief executive of Saudi Aramco, the world’s biggest oil producer, urged global leaders on Monday to continue investing in planet-warming fossil fuels in the years ahead, arguing that the assumption the world could transition to clean energy “overnight” was “deeply flawed.” Nasser, during remarks at the World Petroleum Congress in Houston, Texas, claimed that transitioning to cleaner
CNBC DUBAI, United Arab Emirates — Saudi Arabia’s oil giant Aramco has posted a 158% increase in third quarter net income to $30.4 billion, as the world’s largest oil companies continue to benefit from the reopening of the global economy and soaring oil and gas prices. The result beat expectations, with analysts expecting a median net income of $29.1 billion for
Nasdaq DUBAI – Saudi Aramco 2222.SE is scouting for other potential deals to offer to investors and unlock capital, Chief Executive Amin Nasser said on Monday after the oil giant in June closed a $12.4 billion deal for its crude pipeline network. “We are looking at the potential for other deals that we are currently in negotiation (about),” Nasser said on a call
Reuters DUBAI – Saudi Arabian state oil producer Aramco (2222.SE) reported a near four-fold rise in second-quarter net profit on Sunday, beating expectations and boosted by higher oil prices and a recovery in oil demand. Aramco said its results were supported by the global easing of COVID-19 restrictions, vaccination campaigns, stimulus measures and accelerating economic activity in key markets. Aramco
CNBC Saudi Arabia’s oil giant Aramco is stepping up efforts to promote initiatives in hydrogen technology and investments to reduce carbon emissions, after a harrowing investor smackdown for Big Oil. “Hydrogen is real,” Aramco Chief Technology Officer Ahmad Al Khowaiter told CNBC in an interview Sunday, after a day of presentations from Aramco executives and industry partners to highlight the
Reuters DUBAI – Saudi Arabian oil giant Aramco 2222.SE has secured a one-year extension to a $10 billion loan it raised last year, negotiating improved terms in the process, three sources told Reuters. Aramco has borrowed tens of billions of dollars in the past few years to keep up with Saudi Arabia’s financing needs in an era of lower oil prices.
Reuters DUBAI- Saudi Arabian oil giant Aramco locked in another $6 billion on Wednesday to help fund a large dividend as it returned to the international debt markets with its first U.S. dollar-denominated sukuk sale, a document showed. The debt issuance, which will help fund a $75 billion dividend commitment that will mostly go to the government, comprises tranches of
CNBC Oil giant Saudi Aramco reported a 30% jump in net income Tuesday, in a sign of a continued recovery from the previous year’s oil market crash that saw full-year earnings for the state firm slashed in half. In a release published Tuesday, the company said net income rose to $21.7 billion in the first three months of the year, up
Reuters DUBAI – Saudi Aramco has sent a request for proposals to banks for financing it wants to offer to investors looking to lease its pipelines, three sources said, a sign the oil giant is progressing with plans to extract value from its assets. Aramco, which is being advised by JPMorgan and Japan’s MUFG on the financing, has sent the
CNBC Oil giant Saudi Aramco reported a 44% slump in full-year 2020 results, but maintained its $75 billion dollar dividend payout, with CEO Amin Nasser describing the last twelve months as one of the most “challenging years” in recent history. Saudi Aramco, Saudi Arabia’s behemoth state oil firm, reported net income of $49 billion in 2020, down from $88.19 billion
Reuters BEIJING – Saudi Aramco will ensure China’s energy security remains its highest priority for the next 50 years and beyond as new and existing energy sources run in parallel for some time, CEO Amin Nasser told the China Development Forum on Sunday. Saudi Arabia, the world’s biggest oil exporter, retained its position as China’s top supplier in the first
