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  • Saudi Aramco joins ten new manufacturing sites in the WEF’s Global Lighthouse Network of leaders

    Saudi Aramco (Khurais) is the only Middle East addition. As part of Aramco’s dedication to increase the resiliency of its operations, the Khurais oil field was built as a fully connected and intelligent field, with over 40,000 sensors covering over 500 oil wells spread over 150km x 40km. This enabled autonomous process control, remote operation and monitoring of equipment and pipelines, resulting in maximizing the oil well production with at least 15% attributed to smart well completion technology alone.

  • Saudi Arabia’s Stretched Finances Entangle Cash Cow Aramco

    Even with crude dropping below $40 a barrel this week and its cash flow plunging, Saudi Aramco is trying to pay a $75 billion dividend this year, almost all of it to the state. Concerns are mounting, including among global fund managers who bought into the company during a record initial public offering last December, that Aramco is putting strategic projects on ice and racking up debt too quickly.

  • Saudi Aramco lowers Asia OSPs for October amid signs of tepid demand

    Saudi Aramco lowered its October official selling prices for crude supplies to Asia and the US, while raising some prices for grades bound for Northwest Europe and the Mediterranean, the company said in a pricing letter on Sept. 5.

  • Saudi Aramco is rethinking its global ambitions

    Aramco has announced the creation of a new division that will reassess the company's portfolio starting this month, aiming to promote "resilience, agility and ability to respond to changing market dynamics." Nasseri said he expects a large number of projects to be tabled as a result.

  • Saudi Aramco slows diversification plans amid industry downturn: WSJ

    Oil company Saudi Aramco is reviewing plans to expand at home and abroad in the face of sharply lower oil prices and a heavy dividend burden, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Aramco will review a $6.6 billion plan to add petrochemical output at its Motiva refinery in Texas, as well as a big natural-gas project with Sempra Energy in the same state, according to the report. (on.wsj.com/2QPWVDD)

  • Saudi Aramco discovers two new oil and gas fields: energy minister

    State oil company Saudi Aramco has discovered two new oil and gas fields in the northern regions, the kingdom’s energy minister said on Sunday, state news agency SPA reported. The energy minister Prince Abdulaziz bin Salman Al-Saud said the new Abraq al-Toloul oil field, which lies to the south east of the northern city of Arar, flows with a daily rate of 3,189 barrels per day (bpd) of Arab light crude oil, along with 3.5 million cubic feet of natural gas.

  • Saudi Aramco May Need Big Changes to Keep Dividend Pledge

    Something has to give, but Aramco is signaling it won’t be the dividend, says Jim Krane, an energy studies fellow at Rice University’s Baker Institute.  The company paid $18 billion to shareholders for the second quarter even though it only earned $6 billion, borrowing the difference. CEO Amin Nasser slashed capital expenditure targets by a third to $25 to $30 billion over the coming year. Recent leaks from the company revealed it would save these billions by freezing downstream megaprojects in China, India and elsewhere.

  • Saudi Aramco Appoints New CEO for $500 Million Investment Arm

    SAEV invests in early-stage oil, gas, renewable and chemicals technologies that can potentially benefit the parent company. SAEV generally spends several million to tens of millions of dollars on each acquisition, focusing on companies developing drilling techniques, chemical applications or blockchain-based trading.

  • Commentary: Saudi Aramco Wants to Be More Like Exxon and Shell

    Aramco, as the company is widely known, is creating a new corporate development organization that will focus on “portfolio optimization,” with a brief to “assess existing assets” and boost access to “growth markets and technologies.” It will be led by Senior Vice President Abdulaziz Al Gudaimi, who now heads up the company’s unprofitable downstream business.

  • Saudi Aramco continues to explore India investment plan

    India’s Ministry of Petroleum and Natural Gas recently notified liberalised guidelines for bulk and retail marketing of petrol and diesel, offering new opportunities for foreign oil companies, including those in the Gulf, to enter this lucrative energy business.