The Saudi prince of oil prices vows to drill ‘every last molecule’
Prince Abdulaziz bin Salman is the most powerful man in petroleum. The Saudi oil minister navigates unruly OPEC+ nations, huge swings in prices — and the end of fossil fuels.
Saudi Aramco
Lamprell under ‘severe pressure’ as key Saudi projects beckon
Lamprell has said it faces “severe pressure” as key projects in Saudi Arabia ramp up.
Aramco closes $12.4bn pipeline sale
Saudi Aramco has closed the $12.4 billion sale of a 49% stake in its pipelines unit, to a group led by EIG.
Aramco to sell $6bn of dollar-denominated Islamic bonds
Saudi Aramco, the world’s biggest energy company, is selling $6 billion of bonds in its first dollar-denominated Islamic bond sale.
Saudis increase oil prices for Asia customers as market tightens
Saudi Arabia increased oil prices for customers in its main market of Asia by more than expected after crude surged above $70 a barrel and OPEC forecast that global demand would heavily outstrip supply over the rest of the year.
ESG finance poses risks but offers plenty of sustainable opportunities
Everyone you talk to agrees environmental, social, and governance (ESG) is critical to finance. Where people differ, though, is how best to achieve the goals this timely initialism sets out to capture.
Aramco said to ‘review’ upstream assets for potential stake sales
Saudi Aramco is conducting a strategic review of its upstream business, in a move that could potentially see the state-owned firm bring in external investors to some of its oil and gas assets, people with knowledge of the matter said.
Welltec signs long-term deal with Aramco
Saudi Aramco has signed a long-form contract with Welltec for completion products and services.
Apollo said to lead buyout group for $10bn Aramco deal
Apollo Global Management is leading a group of investors aiming to buy a roughly $10 billion (£7.2bn) stake in Saudi Aramco’s oil pipelines, people familiar with the matter said.
PIF deal cuts risk for ADES of contract renegotiations
Saudi Arabia’s purchase of ADES International reduces the risk that the company’s contracts be cancelled or renegotiated, Fitch Ratings has said.
Petrofac ‘cut off from key markets’ after Adnoc suspension
Petrofac has been cut off from three of its “largest and most promising” oil markets globally after being suspended from Adnoc tenders, according to new analysis.
Aramco’s $75 billion dividend survives oil and earnings rout
Saudi Aramco’s $75 billion dividend survived one of the biggest disruptions to oil markets in decades as the coronavirus pandemic and a price war sent crude prices tumbling.
Lamprell wins Saudi work at Marjan
Lamprell has won an engineering, procurement, construction and installation (EPCI) contract from Saudi Aramco on the Marjan field.
Kentech strikes deal to buy SNC-Lavalin’s oil and gas business
Energy services firm Kentech has struck a deal to buy Canadian engineering company SNC-Lavalin’s oil and gas division.
NOC spending plans at risk from climate goals
Investments by the world’s NOCs are incompatible with limiting climate change, according to new research published by the Natural Resource Governance Institute (NRGI).
Aramco employee killed in Nigeria
Unidentified gunmen have killed a Saudi Aramco employee in his home, in Nigeria.
Aramco signs up enterprise planning with SAP
Saudi Aramco has signed a strategic alliance with SAP, following a number of digital deals signed recently.
Aramco, Baker Hughes launch non-metallic construction
Aramco and Baker Hughes have begun construction on a non-metallic joint venture, at the King Salman Energy Park (SPARK).
Aramco’s Nasser talks up low-carbon oil
Saudi Aramco sees a recovery for oil demand in the second half of 2021 and, in the longer term, hydrocarbons will continue to compete with energy transition options.
Aramco signs technology MoUs
Saudi Aramco has signed new international technology deals, with local content playing a major role.
Saudi acknowledges Jeddah missile attack
Saudi Arabia has confirmed a missile attack on a fuel tank in the city of Jeddah, claimed by Houthi rebels in Yemen.
Aramco awards long-term work to eight
Saudi Aramco has announced the award of long-term agreements (LTAs) with eight companies, focused on brownfield and plant upgrades.
Fitch cuts Saudi, Aramco and Sabic outlook
Fitch has cut the outlook of Saudi Arabia, Aramco and Sabic to negative on concerns of the sovereign’s weakening balance sheet.
Big oil has a long way to go on setting emissions targets
Just five of the 39 largest oil and gas companies have announced carbon-reduction targets that match levels needed to avoid a 2-degree Celsius temperature increase. And only 20 have taken initial steps to disclose how they plan to lower emissions produced by both their operations and electricity use, known respectively as Scope 1 and Scope 2.
Aramco earnings slide 44%
Saudi Aramco’s pre-tax income fell 44% in the third quarter, to $24.7 billion from $44.07bn.