Saudi Arabia and investors have long been at odds about the value of the kingdom’s crown jewel. After a four-year journey that’s been marked with delays, disagreements over valuation and devastating attacks on Aramco’s oil facilities, the kingdom’s de-facto ruler hit his target on Monday: a $2 trillion company.
Shares in Saudi Aramco have gained on the second day of trading, pushing the oil and gas company to a more than 2 trillion US dollar (£1.51 trillion) valuation.
Saudi Arabia's oil company Aramco has begun trading for the first time, gaining 10% in its first moments on the market in a dramatic debut that pushed its value to 1.88 trillion dollars, higher than any other listed company in the world.
Saudi Aramco raised $25.6 billion from the world’s biggest initial public offering, closing a deal that became synonymous with the kingdom’s controversial crown prince and his plans to reshape the nation.
The retail tranche of Saudi Aramco’s initial public offering is fully covered with one day to go.
Abu Dhabi is planning to put as much as $1.5 billion into Saudi Aramco’s initial public offering, as the oil giant taps friendly neighbors to prop up a deal that’s so far failed to draw foreign investors, people with knowledge of the matter said.
At a cultural gathering in the region of Qatif in Saudi Arabia’s oil-rich east, a poet recited some of his work before taking questions. The audience of 80 or so people was engaged and smiling, while a man quietly served coffee and tea in espresso-sized paper cups.
Two years ago, when the initial public offering of Saudi oil giant Aramco held the imagination of foreign investors, President Donald Trump felt compelled to publicly lobby for the share sale to happen in America.
Saudi Arabia set a valuation target for Aramco’s initial public offering well below Crown Prince Mohammed bin Salman’s goal of $2 trillion and pared back the size of the sale to ensure the world’s largest oil producer successfully lists on the Riyadh stock exchange next month.
The chairman of the Health and Safety Executive has called out “complacency” on cyber security within oil and gas and other sectors across the UK.
Saudi Aramco announced today that it is joining the World Bank Initiative: ‘Zero Routine Flaring by 2030’.
Saudi Arabia has formally announced the start of its initial public offering (IPO) of the state-run oil giant Saudi Aramco.
Shares in Saudi state oil giant Aramco will start trading on the Middle Eastern country’s stock exchange on Dec. 11, television news channel Al Arabiya reported, without identifying the source for the information.
For the second straight year, the risks of doing business in Saudi Arabia are pushing their way onto the agenda of Saudi Crown Prince Mohammed bin Salman’s glittering investment showcase.
Saudi Aramco’s stop-start initial public offering was delayed again just days before a planned launch as doubts re-emerged about the $2 trillion valuation placed on the state oil giant by Crown Prince Mohammed bin Salman.
Saudi Aramco abruptly postponed the launch of the world’s largest initial public offering by at least a few weeks, according to people briefed on the situation.
In the wee hours of a sweltering Saturday in September, a volley of missiles and aerial explosives pierced the heart of Saudi Arabia’s oil industry.
Credit rating agency Fitch has downgraded Saudi Arabia over the increase in diplomatic and military tensions in the region after the kingdom's biggest oil processing facility was attacked.
Iran has said this month's missile-and-drone attack by Yemen's rebels on major Saudi oil sites was an act of "legitimate defence" by the Iran-allied Houthis.
Oil fell on signs Saudi Arabia is making progress in restoring output even as uncertainty remains about the kingdom’s ability to bring back all lost supply by the end of the month.
One of the opening events of Climate Week in New York offered a rare sight -- nine bosses of some of the world’s largest oil and gas companies in one room.
The Oil and Gas Climate Initiative (OGCI) today unveiled a series of initiatives aimed at reducing greenhouse gas emissions (GHGs).
Oil held its decline from the dramatic spike earlier in the week as supply assurances from Saudi Arabia and the International Energy Agency calmed the market after the devastating weekend attacks.
Saudi Aramco has completed the purchase of a 50% interest in Shell Saudi Arabia (Refining) Limited’s (SASREF) joint venture in Jubail Industrial City.
Oil stabilised on signs Saudi Arabia is quickly restoring production following a debilitating weekend attack after two tumultuous days in which it surged the most on record and then pared around half of that gain.