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  • Aramco Taps Three Banks to Underwrite ‘Largest Ever’ IPO
     

    Saudi Aramco has asked JPMorgan Chase & Co. and Morgan Stanley to assist with its upcoming initial public offering and could call on another bank, HSBC, with access to Chinese investors, according to separate reports in Reuters and the Wall Street Journal, which cited unnamed sources. The major U.S. banks join Moelis & Co., a […]

     
  • Petrochemicals Sector in Saudi Arabia Remains Vital for Vision 2030 Aims
     

    The Petrochemicals sector in Saudi Arabia makes up 60% of the Kingdom’s non-oil exports and remains vital to the Kingdom’s Vision 2030 aims, according to a recent study on the sector released by Jadwa Investment. The sector’s prominence in the non-oil economy means it has been identified by both the National Transformation Program (NTP) 2020 and […]

     
  • Saudi Arabia Approves $24.5b for Water, Agriculture, and Environment Spending to Meet Vision 2030 Goals
     

    Saudi Arabia has approved $24.5b for water, agriculture, and environment spending to allow government leaders to meet 16 goals set as part of its Vision 2030 development plan, Reuters reports. The figure was stated by Abdulrahman Al-Fadhli, Saudi Arabia’s minister for environment, water and agriculture at a speech at an industry conference in Riyadh. Reuters reports that […]

     
  • “Ken of Arabia” Lands Moelis and Co. as Lead Advisor for Saudi Aramco IPO
     

    Saudi Aramco has chosen New York-based boutique investment bank Moelis & Co as an adviser on its plans for what is expected to be the world’s biggest initial public share offer, Reuters reports. Moelis & Co secured the role of lead independent adviser. The selection is set to move the small newcomer, and its CEO, […]

     
  • Saudi Restarts Renewable Energy Investment Plans with up to $50b in Solar, Wind by 2023
     

    Saudi Arabia appears to be re-starting its efforts to expand renewable energy projects to meet growing domestic power needs with up to $50b invested through 2023, according to reports and comments by the Kingdom’s energy and industry minister Khalid al-Falih. The projects, part of the National Renewable Energy Plan (NREP) will be managed under a […]

     
  • Saudi Energy Ministry Announces New Renewable Energy Plan for up to $50b in Investments
     

    Saudi Arabia appears to be re-starting its efforts to expand renewable energy projects to meet growing domestic power needs with up to $50b invested through 2023, according to reports and comments by the Kingdom’s energy and industry minister Khalid al-Falih. The projects, part of the National Renewable Energy Plan (NREP) will be managed under a […]

     
  • Saudi Aramco Selects U.S. Firms to Audit Reserves for 2018 IPO
     

    Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing next year, industry sources told Reuters on Thursday. Saudi Aramco has asked a unit of oil services firm Baker Hughes – Gaffney, Cline and Associates – to carry […]

     
  • $800m King Abdulaziz Center for World Culture in Dhahran Opens
     

    Saudi Aramco opened the $800 million King Abdulaziz Center for World Culture in Dhahran on Thursday, a large steel structure that aims to deepen knowledge and creativity among Saudi youth, according to reports. According to Reuters, the center, known as “Ithra” (“to enrich” in Arabic) is located close to Saudi’s “prosperity well” that tapped some of the […]

     
  • Saudi, Russia Energy Ministers to Meet in Doha as Output Cut Deadline Looms
     

    Saudi Arabia and Russia energy ministers will meet in Doha, Qatar this week on the sidelines of Gas Exporting Countries Forum (GECF), industry sources quoted by the Wall Street Journal said. The meeting comes as OPEC and non-OPEC members try to solidify an oil output limiting deal agreed to in September. OPEC is hoping to complete […]

     
  • Halt in Saudi Oil Shipments to Egypt Latest Indication of Worsening Relations
     

    State-owned oil company Saudi Aramco halted shipments of oil products to Egypt indefinitely, the latest indication that Egypt-Saudi relations are worsening since a visit by Saudi Arabia’s King Salman to the country in March. Aramco informed the Egyptian General Petroleum Corp. in early October that it would halt supplies of refined oil products, forcing Egypt to […]

     

MUST-READS

  • Saudi jobs: Aramco announces new job platform for Saudi talent

    The Human Resources Platform on Demand, named Madd, has been launched by Saudi Aramco and the Future Work Business Services Company to provide independent workers and trained professionals with job opportunities at large companies and entities.

  • Saudi Aramco’s $21 billion Marjan field project: Everything you need to know

    With a total budget of $21 billion, the project aims to expand the field and increase its crude production capacity by 300,000 b/d as well as produce 360,000 b/d of ethane and natural gas liquids (NGL) by processing an additional 2.5 billion standard cubic feet per day (Bscfd) of gas produced from the field. Of the total 32 packages, 22 packages are under execution and seven projects are in pre-execution. A gas lift package is in the bid evaluation stage.

  • Aramco awards major offshore contracts in production expansion push

    Saudi energy giant Aramco has awarded major offshore contracts amid aggressive investment push to scale up output. A pairing of Indian engineering giant Larsen & Toubro (L&T) and Oslo-listed Subsea 7 last month landed multiple EPC contracts from Saudi Aramco under the latter’s long-term agreement (LTA) framework to which a select group of international contractors have access.

  • Saudi Aramco Bets On Continuous Growth Of Chinese Oil Demand

    With the two agreements, Saudi Arabia is betting on continuous growth in Chinese oil demand on the one hand. On the other hand, the Kingdom is looking to boost its market share in the world’s top oil importer, where its partner in the OPEC+ pact, Russia, has gained market share with cheap crude after the Russian invasion of Ukraine and the sanctions on Moscow that followed.

  • Japan startup APB signs next-gen battery partnership with Saudi Aramco

    Japanese battery startup APB has announced it has partnered with world’s largest oil firm, Saudi Aramco, to jointly develop materials for next-generation lithium-ion batteries and introduce them to global markets. Fukui-based APB says that safer and low-cost all-polymer batteries will play a crucial role in decarbonization, and that it is building a pilot production line at its Fukui plant to prepare for mass production in the fiscal year beginning April 2026.

  • Latest Saudi Aramco’s Oil Investments in China Strengthen Its Market Position

    The $3.6 billion investment to take a 10% stake in private processor Rongsheng Petrochemical Co. is a watershed moment for China’s independent refining sector, a loose grouping crew of companies that range from sophisticated refineries rivaling state-owned Sinopec and PetroChina, to smaller companies frequently tangled in tax and legal battles.

  • Saudi Aramco’s Deal Will Cement China’s Oil Demand and Push Its Peak Higher

    For Saudi Arabia, investing in a foreign refinery is often less about profits from processing crude and more about having secured demand. The Saudis and other oil-rich countries are fighting to lock in long-term customers. Nowhere else does the size of the contracts — and, equally important, their longevity — match what’s possible in China. Over time, India, where Aramco is also exploring refinery ventures, may approach China. But it’s not there yet. New Delhi consumes 5.5 million barrels a day of crude, compared to Beijing’s 16 million. Even if Chinese growth slows, it would take India decades to catch up

  • Saudi Aramco’s Deal Will Cement China’s Oil Demand and Push Its Peak Higher

    The Saudis have attempted to crack open China’s oil-refining industry for decades, trying to buy stakes as a beachhead to supply more oil into the People’s Republic. It’s a well-worn strategy: The Saudis did the same in other big petroleum markets, investing in refiners from Japan to the US to South Korea. In exchange for their equity, the Saudis locked in sales of their oil. It’s a money-for-crude investment that guarantees the Saudis steady demand for their oil.

  • Saudi Aramco boosts China investment in two refinery deals

    Aramco said on Monday it had agreed to acquire a 10% stake in privately controlled Rongsheng Petrochemical Co Ltd (002493.SZ) for about $3.6 billion. The deal includes the supply of 480,000 bpd of crude oil to Rongsheng-controlled Zhejiang Petrochemical Corp (ZPC) for 20 years, Aramco added. It follows a preliminary agreement Aramco reached with the Zhejiang provincial government in 2018 for a 9% stake in ZPC.

  • Saudi Aramco to ramp up Jizan fuel output, sources say

    Saudi Aramco's Jizan refinery is set to increase output of ultra-low sulphur diesel (ULSD) and reduce exports of vacuum gasoil (VGO) as it ramps up production in the second quarter, industry sources said. The refinery could produce up to 250,000 barrels per day (bpd) of ULSD, or 10-ppm gasoil, when it hits full capacity. This could boost Aramco's fuel exports to Europe, the sources said.