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  • Saudi Aramco declares expansion of its flagship localisation initiative

    Aramco announced the expansion of its flagship programme to increase local content and boost domestic supply chains. It is a significant milestone in the company’s In-Kingdom Total Value Add (iktva) programme, which marked its fifth anniversary on 1 December.

  • Saudi Aramco says pump malfunctioned at petroleum derivatives distribution station in Jazan

    Saudi Aramco announced on Wednesday a malfunction in one of the pumps at the petroleum derivatives distribution station in Saudi Arabia’s southern Jazan region, state news agency (SPA) said. The state oil giant said “its technical teams are working around the clock to fix the technical malfunction, as soon as possible, and provide the petroleum products that the Jazan region needs from the station, without interruption, as the supply of petroleum products has gradually returned,” SPA said.

  • Aramco IPO Opens Doors for More Listings on Tadawul Exchange

    One year on from oil giant Saudi Aramco’s record-busting initial public offering in Riyadh, the exchange has continued to enjoy a steady stream of listings. And deals are already lining up for 2021. For years, the twists and turns leading up to Aramco’s listing dominated Saudi Arabia’s IPO market. The decision to float on Riyadh’s Tadawul exchange and to largely forgo international investors sparked concerns that the $29 billion deal would soak up all the available local liquidity for years. That fear has turned out to be unfounded.

  • Saudi Arabia Bombs Houthi Rebels In Response To Aramco Attack

    The coalition led by Saudi Arabia bombed camps of the Houthi rebels in Yemen on Friday after Houthis hit a petroleum distribution center of oil giant Saudi Aramco near Jeddah earlier this week, AFP reported on Friday, citing its correspondents and eyewitnesses. The Saudi-led coalition hit sites believed to be holding rebels of the Iran-aligned Houthi movement in the Yemeni capital Sanaa, the port city of Hodeida, and the city of Amran north of Sanaa, AFP reports.

  • Saudi Aramco’s $8 bln bond issue attracts 150 investors, says official

    The $8 billion senior, dollar-denominated bond included a new tranche with a 50-year maturity, Al-Dabbagh said, adding that the bond issue completion reflects investors’ high turnout and confidence in the company’s position as well as future plans.

  • Yemeni Houthis say they fired missile at Saudi Aramco site in Jeddah

    Yemeni Houthi forces fired a missile that struck a Saudi Aramco oil company distribution station in Saudi Arabia’s Red Sea city of Jeddah, a Houthi military spokesman said on Monday.

  • Aramco bond pricing leaves no doubt investors see it as Saudi proxy

    With its second foray in the international markets this week, Aramco raised $8 billion out of an order book that peaked at $50 billion. One source familiar with the matter said it was the highest over-subscription this year for multi-billion dollar deals. Hefty demand showed that investors continued to see the company as an attractive asset -- despite lower oil prices and an attack on Aramco installations in September last year that revealed the vulnerability of the state-controlled oil company.

  • Climate action investor group adds Saudi Aramco to focus list

    One of the world’s leading investor groups pushing for more corporate action on climate change said it has added Saudi Aramco, the world’s largest oil producer, to its list of target companies. Climate Action 100+, the 450 members of which manage more than $47 trillion in assets, seeks to engage with the companies responsible for much of the world’s greenhouse gas emissions to encourage the transition to a low-carbon economy.

  • Saudi Aramco Raises $8 Billion Bond

    Aramco’s deal was the largest from a company in emerging markets this year, according to data compiled by Bloomberg. The firm sold tranches maturing in three, five, 10, 30 and 50 years. Investors placed more than $50 billion of orders, according to people with knowledge of the matter. Pricing ranged from 1.32% for the shortest notes to 3.65% for the 50-year portion. The spreads over U.S. Treasures were between 110 basis points and roughly 200.

  • Aramco markets five-tranche bonds, seeking cash amid cheap oil

    Last year, Aramco priced inside the sovereign of Saudi Arabia’s curve, but financial sources expect its new bonds to be around 10 bps wider, suggesting investors see a slightly higher risk profile after this year’s drop in oil prices.