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  • Saudi Aramco to secure environmental notations for its fleet

    Saudi Aramco said on Thursday that it wanted to achieve Enviro notation for each of the 23-strong fleet of offshore support vessels, tugs, self-elevating units, and special purpose vessels. The Enviro notation identifies the level of compliance with international environmental protection requirements and integrates further ABS environmental protection requirements.

  • Saudi Aramco Sees Tighter Oil Markets In 2022

    According to the latest estimates, oil demand will average 96.84 million bpd next year, a downward revision of 80,000 bpd from September. OPEC attributed the revision to slower economic recovery across the members of the Organisation for Economic Co-operation and Development (OECD) as well as non-OECD countries. Even with the revision, however, 2021 demand would be 6.5 million bpd higher than 2020's.

  • Saudi Aramco, Adnoc committed to $44 billion west coast refinery project: IOC chairman

    Once the land issue is sorted out, both companies are committed to investing in the project, he said. Aramco and Adnoc are to hold 50 per cent in the project, while IOC has a 25 per cent stake. The remaining 25 per cent is split equally between BPCL and HPCL.

  • Saudi Aramco Discusses $10 Billion Pipeline Sale

    Saudi Arabia's oil giant Aramco is in early talks to potentially structure a deal worth more than US$10 billion to sell a part of its pipeline business to asset managers, including the world's biggest, BlackRock, sources with knowledge of the talks told Reuters on Tuesday. Through a potential sale of a stake in its pipeline infrastructure, Saudi Aramco could raise some much-needed cash. At the same time, its profits tumble with the low oil prices, and debts soar with the acquisition of petrochemicals giant SABIC. Aramco is now trying to contain the damage from the crisis while keeping the pledge to pay out annual dividends of US$75 billion to shareholders, the Kingdom being the largest of them.

  • Oil recovering from ‘worst time in my generation,’ says Aramco’s Nasser

    “We have intensified our cost discipline and are focusing on capital flexibility. We are being very prudent when it comes to capital spending, adhering to strict capital discipline. We are looking at all of our projects and stretching some discretionary ones out where necessary, while maintaining our maximum sustained capacity of 12 million bpd. Also, we are continuing to expand our gas portfolio in the Kingdom,” Nasser said.

  • Saudi Oil Giant Aramco Dismisses ”Speculation” About Peak Demand

    Saudi Arabia’s state oil giant Aramco doesn’t fear peak oil demand as it doubles down on boosting oil production in the long term to beat its competitors, many of which are pledging significant investments in low-carbon energy. Aramco is set on increasing its production capacity, and by extension, the production capacity of the world’s top oil exporter, Saudi Arabia, to squeeze out as much oil as possible, analysts and sources in the industry told Reuters this week.

  • Saudi Aramco assigned Aaa.sa rating by Moody’s reflecting the company’s strength

    Saudi Aramco benefits from an “exceptional operational scale, significant downstream integration and strong financial flexibility given its low cost structure and low leverage relative to cash flows”, Moody’s said in a statement late on Wednesday. “This provides resilience through oil price cycles.”

  • Sole survivor? Saudi Aramco doubles down on oil to outlast rivals

    The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come.

  • African Oil Giant Paves Way to Sell Stake After Aramco Splash

    Legislation two decades in the making is working its way through parliament that would make the Nigerian National Petroleum Corp. independent of government and cut its access to state funding. The move comes after Saudi Arabia in December sold 1.5% of its national oil company, creating a behemoth valued at nearly $2 trillion that vies with Apple Inc. for the title of the world’s most valuable company.

  • African Oil Giant Paves Way to Sell Stake After Aramco Splash

    Nigeria is considering selling shares in its state oil company, which dominates Africa’s biggest petroleum industry and has been central to corruption scandals that have wracked the West African nation since crude was discovered there in the 1950s. Legislation two decades in the making is working its way through parliament that would make the Nigerian National Petroleum Corp. independent of government and cut its access to state funding. The move comes after Saudi Arabia in December sold 1.5% of its national oil company, creating a behemoth valued at nearly $2 trillion that vies with Apple Inc. for the title of the world’s most valuable company.