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  • Saudi Aramco’s acquisition of VGP Holdings gets CCI nod

    VGP Holdings LLC, a subsidiary of US motor oil and lubricants group Valvoline Inc, sells Valvoline and other branded and private label engine and automotive preventive maintenance products.

  • Saudi Aramco’s Luberef proposes cash dividend as profit climbs 32% to $530m in 2022

    As the profit of the company surged, its board of directors has recommended a 50 percent cash dividend, or SR5 per share, for the second half of 2022, the company said in the statement. It should be also noted that this is the first cash distribution for Luberef since its listing in December 2022. The Tadawul statement further added that the dividend distribution date will be announced later. In December 2022, during an exclusive interview with Arab News, Mohammed Y. Al-Qahtani, senior vice president of downstream, Saudi Aramco said that Luberef’s listing on the Saudi Stock Exchange was an important milestone.

  • Lydia Ko Clinches Third Victory in Four Starts at Aramco Saudi Ladies International

    With a win at the Aramco Saudi Ladies International, Lydia Ko started her 2023 season just as the world No. 1 should. After starting Sunday one shot back, a final-round 68 led the New Zealander to a one-shot triumph over India’s Aditi Ashok. Ko will take home a winner’s check of $750,000 as she ticks off her third win in four starts. Ko wrapped up her competitive stretch in 2022 with wins at the BMW Ladies Championship and the CME Group Tour Championship, where she collected the richest prize in women’s golf history.

  • Aramco Saudi Ladies International Purse, Prize Money And Field

    Following a five-fold increase, the purse for year’s Aramco Saudi Ladies International offers equal prize money to the men’s tournament, which took place at the start of the month. That means players will be competing for a $5m prize fund at Royal Greens Golf and Country Club. Of that, with the winner will earn $750,000. Not surprisingly, given the enormous financial incentive, many of the world’s best are in the 120-player field for the event including six of the world's top 10 and a total of 13 Major winners.

  • Opinion: Saudi Aramco Doesn’t Believe Its Own Rhetoric on Oil Demand

    Western rivals can point to calls for cash from demanding shareholders to explain their failure to invest as aggressively as they did in the past, as Bloomberg Opinion wrote last week. That explanation doesn’t wash with Aramco, however. All but a 1.7% sliver of the stock is owned by the Saudi government and its sovereign wealth fund. Moreover, the $75 billion Aramco paid out in dividends over the same period is about 50% more than the combined sum spent by all seven western oil majors

  • Saudi Aramco’s Ladies Golf Int’l Championship Kicks off Thursday

    The Aramco Saudi Ladies International Championship 2023, sponsored by the Public Investment Fund, will kick off Thursday at the Royal Greens Golf & Country Club, in the King Abdullah Economic City. In partnership with the Ladies European Tour (LET), the tournament will see the participation of some of the biggest names in women’s golf such as world no. 1, New Zealander Lydia Ko, world no. 4, Thai Atthaya Thitikul, and world no. 7, US Lexi Thompson, competing for several prizes that are worth combined around $5 million.

  • Citing backlash, LPGA star ends sponsorship with Saudi Arabia’s Aramco

    LPGA star Anna Nordqvist revealed she has ended her endorsement deal with Aramco—Saudi Arabia’s state-run petroleum company and a major financial supporter of women’s golf—due to ongoing backlash for the partnership. In an interview with Swedish news agency TT, the three-time major winner did not express second thoughts regarding the moral and ethical issues of the relationship. Rather, Nordqvist revealed that she wasn’t prepared to receive the “incredible amount of hatred and mean comments from people who don't even know me."

  • Accenture wins mega digital consulting contract with Saudi Aramco

    Appointed a strategic digital partner, Accenture will play a key role in helping Saudi Aramco professionalise its digital foundation, and build digital capabilities. Both Saudi Aramco and Accenture did not disclose further details on the scope of work. According to 2022 analysis by ConsultancyME, Accenture ranks as one of the top oil & gas consulting firms in the Middle East. Saudi Aramco chief executive Amin Nasser said that across the board, the company is planning to invest $1.9 billion in digital transformation over the next three years, making it its biggest investment in digital to date.

  • Saudi Aramco Says ESG Investing Threatens Energy Security

    “If ESG-driven policies are implemented with an automatic bias against any and all conventional energy projects, the resulting underinvestment will have serious implications. For the global economy. For energy affordability. And for energy security.”

  • Aramco to supply full crude contract volumes to at least 4 Asia refiners in March – sources

    Saudi Aramco has told at least four customers in North Asia they will receive full contract volumes of crude oil in March, several sources with knowledge of the matter said on Friday. Saudi Arabia, the world's top oil exporter, unexpectedly raised the official selling prices for its flagship Arab Light in March amid hopes for a rebound in demand, particularly from China after Beijing ditched its zero-COVID strategy.