Saudi Aramco has completed its purchase of a 70% stake in Saudi Basic Industries Corp. (Sabic) for $69.1 billion.
US President Donald Trump’s call for a 10 million barrel per day – or even 15mn bpd – cut drove up oil prices last week but weak demand continues to run the show, with little respite expected from talks due to take place this week.
Even with oil prices having slumped, Saudi Aramco said it still intends to give at least $75 billion to shareholders this year.
Algeria’s Sonatrach has signed an engineering, procurement and construction (EPC) contract with Tecnicas Reunidas and Samsung Engineering on a new refinery at Haoud El Hamra, in Hassi Messaoud.
Gas investments in the Middle East and North African (MENA) region are declining, according to a report from Saudi Arabia-based Arab Petroleum Investments Corp. (APICORP).
When Indian Oil Corp. (IOC) was launched it focused on the downstream and has subsequently expanded into the upstream, while also moving into petrochemicals.
Saudi Arabia is pushing ahead with the much-watched IPO of the mainstay of its economy, Aramco, although with somewhat diminished aspirations.
A major energy sector conference which debuted in Aberdeen this year will return for a second installment in 2020.
Sempra Energy has signed a memorandum of understanding (MoU) on Mitsui & Co. potentially entering LNG projects in the US and Mexico.
Oil price predictions always end in disaster but complacency in the market poses a number of risks, given global uncertainty.
Fitch Ratings has cut Saudi Aramco’s rating to A from A+, following its downgrade of Saudi Arabia.
Oil resumed gains as tension between the U.S. and Iran ratcheted up following the attacks on Saudi Arabia, while doubts remained over how fast the kingdom would be able restore lost output.
Saudi Aramco is growing less optimistic that there will be a rapid recovery in oil production from the weekend’s attack and now faces weeks or months before the majority of output is restored at the giant Abqaiq processing plant.
The largest listed oil and gas producers are moving in the wrong direction, according to a new report from Redburn, “Lost in Transition”.
The largest global stock exchanges have restarted efforts to court Saudi Aramco as the battle to host the world’s biggest-ever initial public offering heats up again, people with knowledge of the matter said.
Indian billionaire Mukesh Ambani’s Reliance Industries Ltd.’s talks to sell a minority stake in its refinery business to Saudi Arabian Oil Co. have stalled on differences over the deal’s structure, people with knowledge of the matter said.
Chemicals and plastics giant Ineos is set to spend two billion US dollars (£1.6 billion) on building three manufacturing plants in the Middle East for the first time.
Majors including Aramco, BP, Ørsted and Shell will talk about US$150bn of global projects requiring UK products and services
The first official glimpse of Saudi Aramco’s financial performance confirms the state-run oil giant can generate profit like no other company on Earth: net income last year was $111.1 billion, easily outstripping U.S. behemoths including Apple Inc. and Exxon Mobil Corp.
Right from the start of London’s biggest gathering of oil traders and producers, uncomfortable truths began to intrude upon the usual round of business meetings and cocktail parties.
Saipem has been awarded two contracts worth £1 billion by Saudi Aramco.
Oil service firm Wood has secured a five-year contract to help deliver one of Saudi Aramco's mega-projects.
Saudi Arabian Oil Co. is seeking a $2 billion loan from Japan’s export-credit agency, three people with knowledge of the matter said, as competition for a role in potentially the world’s largest initial share offering heats up.
Global crude inventories are declining and supply and demand are in balance, according to the head of Saudi Aramco, while the United Arab Emirates energy minister said U.S. shale oil doesn’t threaten OPEC’s efforts to support the market.
Efforts to attract Saudi Aramco to choose London for an expected £1.5trillion flotation must not compromise the UK’s “highly regarded” corporate governance standards, MPs have warned.