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  • Aramco, PIF dividends, consolidation help Saudi to ease fiscal balance

    The large fiscal consolidation measures introduced in May, sizeable Saudi Aramco and Public Investment Fund (PIF) dividends, as well as curbing of expenditure helped the kingdom contain deterioration in fiscal balance in 2020, according to a BofA Global Research report.

  • Aramco to do ‘heavy lifting’ in Saudi fiscal adjustment – BofA

    Saudi oil giant Aramco will likely need to transfer significant amounts of money to the Saudi government and the sovereign fund, Public Investment Fund (PIF), as Saudi Arabia puts its finances in order after the coronavirus slump, Bank of America said.

  • Saudi Aramco Seeks $7.5 Billion Loan for Pipeline Investors

    Saudi Aramco is lining up a loan of about $7.5 billion for potential investors in its oil pipelines, according to people familiar with the matter. The world’s biggest oil producer has begun talks with lenders to secure favorable terms for the funding package that would then be offered to investors, the people said, asking not to be identified as the information is private. The discussions are occurring in parallel with the sale of a stake in a pipeline unit, which could raise about $10 billion for Aramco, the people said.

  • Saudi Aramco announces alliance with SAP

    Aramco on Monday announced a strategic alliance with SAP Saudi Arabia to expand the digitalization of its Enterprise Resource Planning (ERP) systems. The agreement with will see the deployment of cloud-based services, embedded analytics, mobility, machine learning, artificial intelligence, advanced analytics and internet-of-Things solutions.

  • Google, Aramco partner for Saudi Arabia’s $10 billion cloud market

    Google will open a “cloud region” where it can provide its cloud services in Saudi Arabia via a joint venture with state-owned oil producer Saudi Aramco, as Covid-19 prompts a landmark acceleration in digital adoption across the Gulf. “The collaboration taps into rapidly expanding cloud services demand in Saudi Arabia, which is forecast to reach a market opportunity up to $10 billion by 2030,” Aramco said in a statement on Monday.

  • Is Saudi Aramco eyeing a step into Russia′s backyard?

    "This is not a great investment for Aramco in a purely business sense, with downstream profits falling and Asian rivals growing," Robert Tomaszewski at Polityka Insight, a Warsaw-based thinktank, told DW. "But it would give the company a new refining installation, and is open to the sea, opening up the Baltic and close to Germany's terminals at Schwedt and Iuna. The key, however, is that this is in Rosneft's backyard and that would be a game changer."

  • Aramco to bring Google Cloud services to Saudi Arabia

    Aramco said Saudi Arabia is being added to the global network of Google Cloud Platform regions, as part of a strategic alliance agreement signed between the company and Google Cloud this month.

  • Aramco may have to sell assets, borrow more to maintain Saudi dividend

    For Yousef Husseini, equity analyst at EFG Hermes, it would make sense for Aramco to do some sale and leaseback-type agreements to improve liquidity. Aramco is working with Moelis & Co on such a strategy, two sources said. Moelis also declined to comment.

  • Commentary: How Saudi Aramco IPO proved a game changer in a tumultuous year for oil

    But from the summer onwards, as Aramco’s low-cost advantages and deep financial resources became apparent, and when some stability was restored to global oil markets under OPEC+ discipline, the trend was reversed.

  • Saudis Stop Disclosing Oil Revenue Following Aramco’s Listing

    “The reason we don’t disclose the oil and non-oil breakdown is because of the presence of Aramco as a listed company,” Finance Minister Mohammed Al-Jadaan said in a press conference following the kingdom’s budget announcement for next year. “The government deals with Aramco as a supplier for tax. We have revenue that comes from Aramco, tax that comes from Aramco and also dividends since the government is the largest shareholder.”