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Saudi Aramco Inks Two Deals Worth Nearly $50 Billion
Saudi Aramco inked two deals yesterday totaling a whopping $49 billion as the state-run oil company ramps up to a planned public offering. The Wall Street Journal and Reuters report that India and Saudi Arabia on Wednesday signed an agreement to set up a “mega” crude-oil refinery with a capacity to process 1.2 million barrels a day, […]
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Saudi Crown Prince Wraps Up U.S. Tour in Houston with Big Gulf Investments Eyed
Crown Prince Mohammed bin Salman wrapped up his unprecedented whirlwind tour of the United States with a stop in Houston to talk investments in the Gulf region. The Crown Prince visited Motiva Enterprises LLC, a wholly-owned downstream oil and gas subsidiary of Saudi Aramco, to witness the signing of MoUs worth between $8 billion to $10 billion with US […]
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Saudi King Salman Returns Home from Asia Tour, Deputy Crown Prince Mohammed Departs United States
Saudi Arabia’s King Salman returned home from a month-long trip to several Asian nations this weekend as Deputy Crown Prince and Minister of Defense Mohammed bin Salman, left the United States. King Salman arrived in Riyadh on Saturday after a successful visit to China, where the Kingdom signed up to $65 billion in trade deals […]
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Petrochemicals Sector in Saudi Arabia Remains Vital for Vision 2030 Aims
The Petrochemicals sector in Saudi Arabia makes up 60% of the Kingdom’s non-oil exports and remains vital to the Kingdom’s Vision 2030 aims, according to a recent study on the sector released by Jadwa Investment. The sector’s prominence in the non-oil economy means it has been identified by both the National Transformation Program (NTP) 2020 and […]
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Vision 2030 and Natural Gas
A recently released Jadwa Investment report looks at the role that natural gas will play in Saudi Arabia’s Vision 2030 plan to reform its economy and society. “Saudi Arabia holds the world’s sixth largest proven gas reserves and was the seventh largest producer of gas in 2015. Continued investment in gas has resulted in steadily […]
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$20 Billion Dow-Saudi Aramco Venture Takes Another Step
Sadara, a joint-venture between Dow Chemical Company and Saudi Aramco has started its mixed feed cracker, the only one of its kind in the Middle East and one of 26 manufacturing units that will be part of the Sadara chemical complex. Located in Jubail Industrial City along the Gulf coast of Saudi Arabia, Sadara was […]
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SABIC, Exxon Affiliate Studying JV Petrochemicals Complex on U.S. Gulf Coast
Saudi Arabia’s SABIC said Monday it is studying launching a jointly-owned petrochemicals complex with an affiliate of U.S. Exxon Mobil. fIf developed, the project would be “located in Texas or Louisiana near natural gas feedstock and include a world-scale steam cracker and derivative units,” the company said. Before making final investment decisions, the companies will “conduct necessary […]
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G.E., Aramco Ventures Pump $52m into Boston-Area 3D Printing Startup
General Electric Ventures and Saudi Aramco Ventures have led an investment of $52m in total funding into a Boston-based 3D printing device company, Desktop Metal. Desktop Metal aims to bring “an everyday-use metal 3D printing solution to the workspace of every engineering team,” according to CEO Ric Fulop. Boston Business Journal reports that the investment from […]
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First Ever Direct Crude to Chemicals Plant “One Step Closer” for Aramco, SABIC
State-owned Saudi oil giant Aramco and diversified chemicals company SABIC are “one step closer” to being the first ever to use crude oil directly, rather than using refined products such as naphtha or ethane gas as feedstock, to create chemicals, according to reports and announcements by the companies on Saudi Arabia’s stock exchange. The achievement […]
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Saudi Aramco Energy Ventures Steps Up Investments in U.S.
Saudi Aramco ventures, the venture capital arm of the state-owned Saudi oil giant, has increased its investments in early stage and high growth companies in energy, petrochemicals, and renewables recently with two investments into U.S. companies, according to Forbes. The Dhahran, Saudi Arabia-based VC can is looking to invest $1 million and $30 million per […]
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ADNOC, Saudi Aramco sign deal to invest in $44B mega refinery and petrochemicals complex in India
A framework agreement, between the Abu Dhabi National Oil Company (ADNOC), Saudi Aramco (Aramco) and a consortium of three Indian oil companies, to explore a strategic partnership and co-investment in the development of a new US $44 billion mega refinery and petrochemicals complex at Ratnagiri, on India’s west coast.
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Shell completes divestment in Saudi petrochemicals joint venture
Royal Dutch Shell on Wednesday said it has completed the divestment of its 50 percent ownership in a petrochemicals joint venture in Saudi Arabia.
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Saudi domestic crude oil demand to rise with new petrochemicals units
The startup of new petrochemicals units in Saudi Arabia should push the kingdom's domestic crude oil demand to 2.9 million b/d by the end of the year, up 100,000 b/d from 2016, Riyadh-based Jadwa Investments said in a research note Tuesday.
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Saudi’s SABIC agrees petrochemicals project with China’s Shenhua
SABIC said in a statement the joint project would be a "greenfield petrochemical complex" located in the Ningxia Hui Region of China and would help the Saudi company diversify its feedstock sources.
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Petrochemicals drag Saudi stock market to 4-yr low
Middle East bourses slumped on Tuesday in a broad sell-off as investors cashed out, with petrochemicals the main drag on Saudi Arabia's index and blue-chips weighing elsewhere.
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Petrochemicals boost Saudi; other markets sluggish
Saudi Arabia's main share market index rose on Sunday as investors continued to buy beaten-down petrochemical shares on hopes that oil prices may have bottomed out, while most other regional bourses were sluggish.
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