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  • Citigroup Is Said to Name Key Banker on Aramco IPO as Saudi CEO

    Al Khatib, previously head of investment banking at NCB Capital, was one of the key bankers on the initial public offering of Saudi Aramco in 2019, the biggest ever after raising almost $30 billion. That deal was led by NCB Capital, along with Samba Capital and HSBC Holdings Plc’s Saudi unit, after the kingdom decided to focus on selling the shares to domestic investors and relegated the international banks on the IPO -- including Citigroup -- to more junior roles.

  • Aramco’s entrepreneurship arm to support startups at Saudi Arabian industrial zones

    The entrepreneurship arm of Saudi Aramco, Wa’ed, has signed a memorandum of understanding (MoU) with the Royal Commission for Jubail and Yanbu (RCJY) to support the creation of new startups and small and medium-sized enterprises (SMEs) in Saudi Arabia’s two largest industrial cities. The MoU was signed by Wa’ed managing director, Wassim Basrawi, and RCJY general manager, Dr. Ahmed Zaid Al-Hussain, at a virtual ceremony.

  • How Saudi Aramco’s localisation programme helped battle the pandemic

    For example, since the launch of iktva in 2015, our suppliers have tripled their local purchases of goods and services. There has also been a 13-fold increase in spending by our main suppliers in developing local sub-suppliers

  • Saudi Aramco investing ‘significant amounts’ in blockchain platforms to increase efficiency

    The company is using blockchain technology to standardize business processes to increase efficiency and reduce costs. Blockchain benefits include cybersecurity, data resilience, privacy, improved data quality and fraud reduction.

  • KAUST, Saudi Aramco make progress on one-step Crude-to-Chemicals technology

    Light olefins such as ethylene and propylene are some of the important building blocks for the plastic, construction and textile industries. Initial findings from the collaborative research on the 1-Step C2C technology have just been published in Nature Catalysis. The researchers demonstrated that the direct transformation of crude to chemicals in a one-step process is possible.

  • Saudi Aramco raises most Asia, US-bound April OSPs, cuts Europe OSPs

    Saudi Aramco raised its official selling prices for its light and medium crude oil grades bound for Asia and the US, while cutting prices across all crude grades bound for Europe, the company said in a notice on March 8.

  • Saudi Aramco in League of its Own as Middle East’s Most Valuable Brand

    This year, the Brand Finance Middle East ranking has been expanded to include 100 brands for the first time, with nine Middle Eastern nations’ brands featuring from: Saudi Arabia; the UAE; Qatar; Kuwait; Oman; Bahrain; Jordan; Lebanon; and Iraq. Saudi Arabian brands are the most represented with 45 featuring and account for 56% of the total brand value in the ranking, the UAE sits in second with 25 brands featuring with its brand accounting for 36%, and Qatar in third with its 12 brands accounting for 11% of the total brand value.

  • Aramco seeks one-year extension on $10 billion loan: sources

    Saudi Aramco has asked banks to extend by a year a $10 billion loan it raised last May, two sources familiar with the matter said, suggesting that rebounding crude prices are not pushing the oil giant to reduce debt for the time being.

  • Saudi Aramco lands multiple bids for $10 billion pipeline stake

    Apollo Global Management Inc. and Global Infrastructure Partners are among suitors that bid for a roughly $10 billion stake in Saudi Aramco’s oil pipelines, people familiar with the matter said. Canada’s Brookfield Asset Management Inc., BlackRock Inc., sovereign wealth fund China Investment Corp. and Beijing-backed Silk Road Fund Co. have also made non-binding offers, the people said, asking not to be identified as the matter is private. Pension funds in Abu Dhabi and Saudi Arabia have separately submitted initial bids, the people said.

  • Aramco Celebrates 64 Years on the Air

    Aramco’s radio stations have come a long way since their inception in the late 1930s. Back then, there were no radio stations for miles, and so, at the request of Dhahran employees and residents, music was played over speakers to entertain those visiting the Kings Road swimming pool. It was several decades later, in 1957, when the stations began broadcasting over the air on the AM band before switching to FM in the mid 1970s.