Oil traders are ‘big winners’ from Saudi-Russia price war
Saudi Arabia and Russia’s price war is handing over a multi-billion dollar profit opportunity to the world’s largest oil traders.
Saudi Aramco
Oil rally falters after Saudis vow to further boost production to 13 million barrels
Oil’s rebound from its biggest crash in a generation faltered after Saudi Arabia said it would boost its production capacity, while there were also doubts whether the U.S. could deliver sufficient stimulus to support prices.
Saudi Aramco begins preparations for international listing
Saudi Aramco is starting early preparations for an international listing, just months after the oil giant turned its record initial public offering into a domestic affair and sidelined global banks, people with knowledge of the matter said.
Saudi Arabia to invest $110bn in Jafurah gas field
Saudi Arabia plans to invest 412 billion riyals ($110 billion) to develop unconventional natural gas reserves in the eastern Jafurah field, according to the kingdom’s official Saudi Press Agency.
Yemeni rebels target Saudi Aramco in Jazan
Yemen’s Houthi rebels launched a missile attack on Saudi Aramco, but an oil official in the kingdom said the projectiles were intercepted before they could hit their target in the southern Jazan region.
European oil firms leaving US counterparts behind in energy transition race, CMS report says
European and Chinese oil and gas firms are well ahead of US rivals in the energy transition race, new research has found.
Drones, delays and disputes: Aramco’s rocky road to $2 trillion
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.
Aramco hits £2bn valuation after second day of trading
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 Aramco now ‘worth more than top five oil companies’ combined
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 raises $25.6 billion in world’s biggest IPO
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.
Aramco IPO retail offering ‘fully covered’ with one day to go
The retail tranche of Saudi Aramco’s initial public offering is fully covered with one day to go.
Abu Dhabi understood to be planning up to $1.5bn Aramco IPO investment
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.
Saudi Arabia’s oil heartland is calm – that’s bad news for Iran
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.
Aramco failure to win foreign cash makes IPO local event
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 cuts $2trillion Aramco valuation
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.
HSE chairman calls out cyber security ‘complacency’ during oil conference
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 joins World Bank’s zero flaring initiative
Saudi Aramco announced today that it is joining the World Bank Initiative: ‘Zero Routine Flaring by 2030’.
Saudi Arabia starts IPO of state-owned oil giant Aramco
Saudi Arabia has formally announced the start of its initial public offering (IPO) of the state-run oil giant Saudi Aramco.
Aramco to trade on Saudi exchange in December, Arabiya Says
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.
Bankers shrug off risk and head back to Saudi Arabia for deals
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 $2trillion IPO delayed once again
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 may postpone public offering due to ‘market conditions’
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.
Saudi Aramco gives ‘all clear’ on oil production after attacks
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.
Saudi Arabia’s credit rating downgraded after oil facility attack
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 claims attack on Saudi oil sites was act of ‘legitimate defence’
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.