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  • Aramco Turns to Bonds to Help Fund $75 Billion Dividend

    Saudi Aramco, the world’s biggest oil company, is set to return to the bond markets for the first time since April of last year as it seeks to fund a $75 billion dividend commitment. Aramco, which hired banks including Goldman Sachs Group Inc. for the sale, needs to raise debt after slumping crude prices caused profit to fall by 45% in the third quarter. That’s left it unable to generate enough cash to fund the investor payouts, almost all of which go to the Saudi government, which needs the money to plug a widening budget deficit.

  • Saudi Aramco and China to bridge the climate gap

    The headline takeaway from the speech was Aramco’s offer to be a “bridge” between China’s current reliance on comparatively dirty fossil fuels and its stated ambition to move to a carbon neutral economy by 2060. Since the China strategy also involves doubling its economy in size by 2035, there is a big potential energy market there — for the right kind of fuel.

  • Saudi Aramco Aims To Deliver Capital-Effective Petrochemical Projects

    Saudi Aramco commissioned a creative two-pronged assessment—one following a bottom-up approach, the other a top-down approach—of the potential risks associated with delivering major petrochemicals projects in four regions—China, the Kingdom of Saudi Arabia, India, and the US Gulf Coast (USGC). Wood PLC and Independent Project Analysis (IPA) Inc. were tasked by Saudi Aramco’s Facilities Planning Team to conduct independent comprehensive project risk assessments for each of the four regions.

  • Saudi Aramco Proposes Selling Gas to China to Build on Oil Ties

    Saudi Aramco wants to sell natural gas to China to help its biggest customer for oil make the transition to cleaner fuels, Chief Executive Officer Amin Nasser said. The Saudis, who have fought to remain among China’s largest crude suppliers, are also looking at options to develop and supply energy sources such as hydrogen and new kinds of chemicals to broaden their relationship with China, according to comments Nasser made on Wednesday to the China Development Forum.

  • Saudi Aramco Fleet Aims for Higher Environmental Standards

    Saudi Aramco intends to achieve the ENVIRO notation for each of the 23-strong fleet of offshore support vessels, tugs, self-elevating units, and special purpose vessels. Seven (7) vessels have already been awarded the notation, with the remainder of the fleet in the process of being evaluated.

  • Reliance’s deal talks with Saudi Aramco gaining momentum: ET Now

    Reliance’s shares have been on a tear in 2020, rising more than 35% this year, as it raised billions of dollars from global investors for its digital and retail arms.

  • Q&A: How R&D fuels Saudi Aramco’s growth strategy

    Ashraf Al Tahini, he head of Saudi Aramco’s upstream research and development unit EXPEC ARC, talks about the company’s strong push into technological research, its role in bolstering resilience during a crisis like the pandemic, and the future for upstream research

  • Aramco earnings up in Q3, but still far less than last year

    Saudi Arabia’s oil and gas giant Aramco announced Tuesday third quarter profits of nearly $12 billion, a significantly higher net income from its dramatically lower second quarter earnings. Still, its third quarter earnings of $11.8 billion are down nearly 45% compared to last year’s $21.3 billion for the same quarter.

  • Demand issues to overshadow OPEC+ supply next year, Aramco trading arm chief says

    The Organization of the Petroleum Exporting Countries (OPEC) and its allies will have to contend with a “lot of demand issues” before raising supply in January 2021, given throughput cuts by oil refiners, the head of Saudi Aramco’s trading arm said. OPEC and its allies plan to raise production by 2 million barrels per day (bpd) from January after record output cuts this year as the coronavirus pandemic hammered demand, taking overall reductions to about 5.7 million bpd.

  • Aramco Scales Back $20 Billion Chemicals Plant to Cost Cuts

    Aramco and its subsidiary Saudi Basic Industries Corp. intend to incorporate existing facilities into the Yanbu project instead of building an entirely new one, according to a statement Sunday from Sabic, as the chemicals firm is known.