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  • Saudi Aramco and Sumitomo Chemical to lend Petro Rabigh $2 billion

    Japan's Sumitomo Chemical 4005.T and Saudi Aramco 2222.SE will lend $2 billion to their refinery and petrochemicals joint venture as it faces a shortfall of capital due to the COVID-19 pandemic and periodic maintenance, Sumitomo said on Thursday Sumitomo Chemical plans to provide $750 million, or 37.5% of the loan, to Rabigh Refining and Petrochemical Company (Petro Rabigh) 2380.SE while Saudi Aramco will lend the rest, a spokesman at the Japanese chemical company said.

  • Saudi’s Aramco invests in US-based Data Gumbo

    Data Gumbo operates a network called GumboNet that uses blockchain - a secure electronic ledger - to generate so-called “smart contracts” for its industrial customers, which includes oil-and-gas, construction and mining businesses.

  • Fitch Affirms Saudi Aramco at ‘A’; Outlook Stable

    We assess Saudi Aramco’s Standalone Credit Profile (SCP) at ‘aa+’. Saudi Aramco is the world’s largest oil producer. Its business profile is characterised by large scale production, vast reserves, low output costs and expansion into downstream and petrochemicals.

  • Saudi Aramco joins ten new manufacturing sites in the WEF’s Global Lighthouse Network of leaders

    Saudi Aramco (Khurais) is the only Middle East addition. As part of Aramco’s dedication to increase the resiliency of its operations, the Khurais oil field was built as a fully connected and intelligent field, with over 40,000 sensors covering over 500 oil wells spread over 150km x 40km. This enabled autonomous process control, remote operation and monitoring of equipment and pipelines, resulting in maximizing the oil well production with at least 15% attributed to smart well completion technology alone.

  • Oil Giant Aramco Regains Top Spot From Apple as Tech Rally Fades

    Saudi Aramco is once again the world’s most valuable company after its market capitalization rose a shade above Apple Inc. amid a slump in U.S. technology shares. The state oil giant’s stock has gained 1.1% in Riyadh this month, despite Brent crude dropping 12% to below $40 a barrel as concerns about an acceleration in coronavirus infections mount.

  • Saudi Arabia’s Stretched Finances Entangle Cash Cow Aramco

    Even with crude dropping below $40 a barrel this week and its cash flow plunging, Saudi Aramco is trying to pay a $75 billion dividend this year, almost all of it to the state. Concerns are mounting, including among global fund managers who bought into the company during a record initial public offering last December, that Aramco is putting strategic projects on ice and racking up debt too quickly.

  • Saudi Aramco lowers Asia OSPs for October amid signs of tepid demand

    Saudi Aramco lowered its October official selling prices for crude supplies to Asia and the US, while raising some prices for grades bound for Northwest Europe and the Mediterranean, the company said in a pricing letter on Sept. 5.

  • Saudi Aramco is rethinking its global ambitions

    Aramco has announced the creation of a new division that will reassess the company's portfolio starting this month, aiming to promote "resilience, agility and ability to respond to changing market dynamics." Nasseri said he expects a large number of projects to be tabled as a result.

  • Saudi Aramco slows diversification plans amid industry downturn: WSJ

    Oil company Saudi Aramco is reviewing plans to expand at home and abroad in the face of sharply lower oil prices and a heavy dividend burden, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Aramco will review a $6.6 billion plan to add petrochemical output at its Motiva refinery in Texas, as well as a big natural-gas project with Sempra Energy in the same state, according to the report. (on.wsj.com/2QPWVDD)

  • Saudi Aramco discovers two new oil and gas fields: energy minister

    State oil company Saudi Aramco has discovered two new oil and gas fields in the northern regions, the kingdom’s energy minister said on Sunday, state news agency SPA reported. The energy minister Prince Abdulaziz bin Salman Al-Saud said the new Abraq al-Toloul oil field, which lies to the south east of the northern city of Arar, flows with a daily rate of 3,189 barrels per day (bpd) of Arab light crude oil, along with 3.5 million cubic feet of natural gas.