Saudi Aramco – Page 7 – Oil & Gas 360

Aramco Signs $27.5 Billion in MOUs with Suppliers

November 26, 2018

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

OPEC prepares for its 171st meeting to decide on production cuts

Saudi Aramco IPO Timeline Shifted by SABIC Acquisition

July 23, 2018

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

Saudi Aramco Looking to Buy Stake in World’s No. 4 Chemical Firm

July 19, 2018

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 Signs JV with NOV Pushing Creation of Energy Services Sector

July 2, 2018

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

Aramco Hires Halliburton for Unconventional Gas Completions

May 29, 2018

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

Kingdom Mulls Only Listing Aramco Shares at Home

March 14, 2018

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

EnerCom Announces Speakers and Agenda for The Oil & Gas Conference® 22 in Denver – August 13-17, 2017

August 2, 2017

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

EnerCom Exclusive: Tom Petrie Discusses the Effects of Saudi Oil on the U.S. Oil and Natural Gas Sector

March 10, 2017

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

Saudi Aramco Eyeing Billions in Investments ahead of IPO

March 7, 2017

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,

Offshore Driller Rowan Creates New Company with Saudi Aramco

November 23, 2016

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

Saudi Aramco IPO to Include Upstream Business, Not Just Downstream

October 11, 2016

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

June 2 OPEC Meeting: what is Saudi Arabia’s Role in the Changing Dynamics of OPEC?

May 31, 2016

Saudi’s internal needs first, OPEC’s somewhere down the scale With the biannual OPEC meeting fast approaching, many are wondering what role Saudi Arabia will take in the organization with the recent change of oil ministers. Traditionally, Saudi Arabia has served as the leader of OPEC, but with the organization’s role of market balancer cast aside, and Saudi visions of an

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