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 aims to become a global gas player, the company’s CEO said on Tuesday. Amin Nasser told Reuters in an interview
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 percent local content by 2021,” the company said. Organizations that have committed include: Offshore Oil Engineering Co. Ltd. Sapura Fabrication Sdn
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 of an ambitious plan championed by Crown Prince Mohammed bin Salman to diversify Saudi Arabia’s economy beyond oil, but preparations
From Reuters Saudi Aramco (IPO-ARAM.SE) said on Thursday it is looking to buy a strategic stake in Saudi petrochemical maker SABIC (2010.SE), a move that could boost the state oil giant’s market valuation ahead of a planned initial public offering. Aramco said in a statement that it was in “very early-stage discussions” with the kingdom’s Public Investment Fund (PIF) to
Saudi Aramco and National Oilwell Varco, Inc. (NYSE: NOV) have signed a shareholder agreement to form a joint venture partnership. The JV is to establish an integrated world-class on-shore rig and equipment manufacturing and aftermarket facility in Ras Al-Khair, Saudi Arabia. NOV will own a 70% interest in the joint venture, while Saudi Aramco will own 30%. Deals such as
From the Houston Chronicle Saudi Arabia will partner with Houston-based Halliburton as it hopes to unlock a natural gas revolution similar to the shale boom that began in the U.S. more than a decade ago. State oil company Saudi Aramco signed a three-year contract Sunday with the North American fracking leader to handle the hydraulic fracturing and completions of its
From CNBC 50% chance of that happening: Reuters After Saudi exchange listing, may offer stock on an international exchanges later Red tape in New York and NYC litigation risk; an LSE listing may not be possible till 2019 Saudi Arabia’s state-owned oil giant Saudi Aramco could first issue stock on its home market and privately place shares in the hands
Presenters added to EnerCom’s Oilfield Tech & Innovation Day – Aug. 17, 2017 EnerCom has announced the speakers and agenda for The Oil & Gas Conference® 22 on August 13-17, 2017, in Denver, at the Westin Denver Downtown. The four-day conference will feature presentations from C-level executives at publicly traded and private oil and natural gas companies, as well as
The Saudi Aramco IPO, U.S. crude oil exports, U.S. LNG exports During last week’s EnerCom Dallas oil and gas investment conference, Tom Petrie, chairman and founder of Petrie Partners, gave a luncheon presentation entitled “Scoping 21st Century Energy Geopolitics.” At its heart, Petrie’s presentation was a look at “today’s realities” especially concerning Saudi Arabia’s oil fortunes, U.S. Middle East policy
Aramco looking at making a $5 billion solar investment to attract attention to oil company’s IPO Saudi Aramco, the world’s largest oil company in terms of production, is considering a $5 billion investment in solar energy. The substantially step into the renewable energy sector is part of a broader effort by Saudi Arabia to reduce its dependence on fossil fuels,
Rowan Companies plc (ticker: RDC) and the Saudi Arabian Oil Company (Saudi Aramco) have signed, through their subsidiaries, an agreement to create a 50/50 joint venture to own, operate, and manage offshore drilling rigs in Saudi Arabia. The new joint venture company will use Rowan’s established business in Saudi Arabia as its base with a scope of operations covering Saudi Arabia’s existing and future offshore oil and
Information about Saudi Aramco IPO advisors to be released soon Saudi Aramco plans to sell shares in its entire business, the company’s CEO Amin Nasser said. When the IPO was originally announced, there was speculation that the kingdom might only seek to sell shares in the downstream operations of the world’s biggest oil company. The company plans to list shares
