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
Reuters Global oil demand is recovering and could return to around pre-pandemic levels next year, the chief executives of Saudi Aramco and Chevron Corp told an oil and gas conference on Tuesday. The coronavirus pandemic last year wiped out a fifth of worldwide demand for fuel as billions of people stopped traveling and sheltered at home. Global demand for oil
Reuters SINGAPORE/NEW DELHI – Top oil exporter Saudi Arabia has cut supplies of February-loading crude for some Asian buyer by up to a quarter while meeting requirements of at least four others, several refinery and trade sources with knowledge of the matter said on Wednesday. This comes after Saudi Arabia pledged additional voluntary output cuts of 1 million barrels per
Reuters DUBAI – Oil giant Saudi Aramco and energy services company Baker Hughes have formed a 50/50 joint venture, Novel, to develop a broad range of non-metallic products for multiple applications in the energy sector. Novel’s new plant is being constructed at Saudi Arabia’s King Salman Energy Park (SPARK), a 50 sq km energy city aimed at making the kingdom
