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  • Saudi Aramco’s Q1 total output rises 13% to 13 mil boe/d as capex drops 7%

    Saudi Aramco, the world's biggest oil company, on May 15 reported a 13% increase in total hydrocarbons output to 13 million boe/d in the first quarter from a year earlier and a 7% decline in capital expenditures amid plans to increase spending.

  • Saudi Aramco eclipses Apple to once again become the world’s most valuable company

    Aramco is now worth about $2.43 trillion, compared with Apple's $2.37 trillion, according to data from Refinitiv. Market capitalizations fluctuate frequently: earlier this year, Apple (AAPL) hit the $3 trillion mark, becoming the first to do so and making it by far the most valuable company on the planet. Aramco at one point also held that mantle after a historic initial public offering in 2019, which propelled its valuation to $2 trillion.

  • Samsung, Chevron, Saudi Aramco pour $150m into carbon capture startup

    The round comes amid surging interest in CCS — last year, the global capacity of planned CCS projects grew 50% over nine months, and the industry was further boosted by the latest report by the Intergovernmental Panel on Climate Change (IPCC), which stressed the need for the technology. Other forms of carbon removal are also attracting interest. Climeworks, a Swiss startup working on direct air capture (where carbon is removed from the air itself, rather than captured at source) raised a $650m round last month.

  • Petronas-Aramco refinery in Malaysia restarts after 2-yr closure – source

    A 300,000 barrel-per-day refinery-petrochemical complex in Malaysia run as a joint venture between Petronas and Saudi Aramco has restarted after a more than two-year closure, a source with knowledge of the matter said. The complex in Pengerang, Johor, is resuming operations at a time when refining margins in Asia are at record levels, buoyed by a fuel demand recovery as more economies across Asia, except for China, ease COVID-19 restrictions.

  • Samsung, Chevron, Saudi Aramco pour $150m into carbon capture startup

    If we want to keep global warming below 1.5C, we can only emit another 500 gigatonnes of carbon into the atmosphere, according to the UN’s climate council — that’s around eight years’ worth at the current rate. In the race to cut emissions, a lot of hope is pinned on carbon capture and storage tech (CCS) —  which captures the carbon produced in industrial processes before it reaches the atmosphere, be it in cement and steelmaking processes, oil refineries or natural gas production.

  • Saudi Aramco briefly becomes world’s most valuable firm

    Saudi Aramco briefly topped the list of largest companies by market capitalization on Tuesday with a market value of $2.464 trillion, surpassing US tech major Apple Inc.’s value of $2.461 trillion. Shares of the Saudi oil giant hit its highest level at SR46.20 in early trading on Tuesday on the Saudi Exchange (Tadawul). Aramco’s stock price slightly retreated later in the day to trade at SR46.05 as of 11:53 a.m. Saudi time, implying a market valuation of SR9.21 trillion.

  • Fitch revises Saudi Aramco’s outlook to ‘positive’

    Ratings agency Fitch on Monday revised its outlook for state-owned Saudi Arabian Oil Co (2222.SE) to "positive" from "stable", citing a similar action on the country. The agency had raised its outlook on Saudi Arabia to "positive" from "stable" earlier this month on the back improvements in the country's sovereign balance sheet thanks to higher oil revenues

  • Saudi Aramco Awards $300 Million Integrated Conventional Fracturing Contract to NESR

    National Energy Services Reunited Corp. ("NESR" or "the Company") (NASDAQ:NESR)(NASDAQ:NESRW), an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, has announced that the company has been awarded one of the major contracts for Integrated Rig-less Stimulation and Testing Services ("Conventional Fracturing") in Saudi Arabia. These contracts are for a total period of three years with an option for a further extension of two years and are worth approximately USD $300 million covering fracturing, testing, wireline, coiled tubing, slickline services and all associated chemistry, logistics and site services to conduct these operations.

  • Hyundai, Saudi Aramco to jointly develop eco-friendly vehicle engine

    The two-year joint project aims to verify by how much greenhouse gas emissions can be reduced when e-fuel is used in hybrid electric vehicles instead of conventional fuel, it said.

  • Saudi Aramco’s Luberef Refinery Unit Plans $1 Billion IPO

    Luberef would be joining several Aramco subsidiaries already listed on the Saudi stock exchange, including chemicals maker Saudi Basic Industries Corp., and Rabigh Refining & Petrochemical Co. The firm produces 1.2 million tons a year of base oils such as lubricants, according to Aramco’s 2019 IPO prospectus.