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  • Saudi Aramco Cuts Crude Oil Prices for Several Regions

    The state-run Arabian oil company, otherwise known as Saudi Aramco, lowered the price for its Arab light crude oil--which it will sell in Asia in September--by $0.30 cents a barrel, giving it a $0.90 cents-a-barrel premium to the Oman/Dubai average. The decision ended a three-month streak of increases in its Asian light crude selling price.

  • Saudi Aramco, other oil giants join efforts to mitigate climate change

    In a report on the organisation, it was made clear that the coalition intends to reduce average carbon intensity of upstream oil and gas operations from 23kg of CO2 equivalent per barrel in 2017 to to 20-21kg in 2025.

  • Saudi Aramco delays official selling prices for crude to next week, says source

    Saudi Aramco typically issues its official selling prices (OSPs) by the 5th of each month, setting the trend for Iranian, Kuwaiti and Iraqi prices and affecting more than 12 million barrels per day of oil bound for Asia.

  • Apple surpasses Saudi Aramco to become world’s most valuable company

    Apple shares closed up 10.47% Friday, giving it a market valuation of $1.84 trillion. Saudi Aramco, which had been the most valuable publicly listed company since its market debut last year, now trails at $1.76 trillion as of its last close.

  • Saudi Aramco, ADNOC may lower Sep OSPs on bearish market, weaker structure: sources

    Middle Eastern crude oil producers Saudi Aramco and Abu Dhabi National Oil Company will likely lower their September official selling price differentials after three months of consecutive hikes, amid bearish market fundamentals and a weaker crude structure in recent days, market participants said.

  • 20 Siemens Compressors For Saudi Aramco Project

    Siemens Energy (Siemens) will provide centrifugal compressor systems for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage (HUGRS) project. The plant includes a gas injection facility with a capacity of 1,500 MMSCFD (42.4 x 106 m3/d) and a withdrawal facility capable of processing up to 2,000 MMSCFD (566 x 106 m3/d) of gas. Siemens Energy received the order from Samsung Engineering (Samsung), which was awarded the engineering, procurement, and construction contract earlier this year. Samsung’s scope of work includes gas injection facility with booster compressors and injection compressors, gas reproduction facility with reproduction compressors, and slug catchers as well as utilities and offsite facilities.

  • Saudi Aramco distributes 60mln free shares worth $528mln

    Saudi Aramco has distributed about 60 million shares valued at SR1.98 billion to Saudi individual investors earlier this week, Okaz/Saudi Gazette has learned from the data released by the Capital Market Company (Tadawul). According to a statement of Tadawul on Monday, Saudi Arabia’s ownership in Saudi Aramco’s shares before May 26 was approximately 98.21 percent of its total shares, equivalent to about 196.42 billion shares, and the state’s stake in the company’s shares declined 0.03 percent to 98.18 percent, valued at 196.36 billion shares. This marks a decrease of 60 million shares in government ownership in the company’s shares, and this was included last Saturday in the portfolios of individual investors.

  • Saudi Aramco raises August propane, butane CP

    Saudi Arabia's state-controlled Saudi Aramco has set its August contract price (CP) for propane at $365/t, up by $5/t from the previous month. The August butane CP was raised by the same margin to $345/t, maintaining the $20/t discount to propane from the previous months of June and July.

  • Aramco to transfer free shares to Saudi investors next week

    Saudi Aramco said on Sunday that the Kingdom’s government has set a date for the transfer of free shares to the investment portfolios of individual Saudi investors.

  • Saudi Aramco to publish second-quarter results on August 9

    Saudi Aramco plans to release its second-quarter earnings on August 9 before the Saudi stock exchange Tadawul opens. The company will hold a webcast for the Q2 results on August 10 at 1530 local time (1230 GMT), the company said on Monday.