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Tuesday, July 27, 2021



Saudi Aramco Q3 profit slumps 44.6% as pandemic chokes demand

November 03, 2020 3:11 pm

Weaker refining and chemicals margins have also hit the company's net profit, which fell to 44.21 billion riyals ($11.79 billion) for the quarter ended Sept. 30 from 79.84 billion riyals last year.

Aramco still aims for $15 billion investment in RIL's refining and chemicals business

August 10, 2020 11:06 am

A deal with Reliance would help the world’s biggest crude exporter join the ranks of the top oil refiners and chemical makers. State-owned Aramco is already a major supplier of crude to India, while Reliance sells petroleum products, including gasoline, to the kingdom.

Saudi Aramco starts trading, gaining 10% and reaching $1.8 trillion

December 11, 2019 1:41 pm

Saudi Arabia's oil company Aramco is now listed and has started trading on the Saudi Tadawul stock exchange for the first time after a mammoth $25.6 billion initial public offering that set the record as the biggest ever in history.

How Aramco’s huge IPO fell short of Saudi Prince’s wish

December 07, 2019 11:09 am

Saudi Arabia was counting on the IPO to attract foreign investment to help diversify its economy away from oil. An Aramco IPO valuation reduced by forecasts of weakening global demand for oil and geopolitical jitters could hurt that effort.

Aramco IPO retail offering fully covered as deadline approaches

November 29, 2019 8:06 am

The Saudi Aramco subscription reached 38.1 billion riyals ($10.2 billion), lead manager Samba Capital said in a statement, equivalent to about 120% of the portion set aside for retail investors.

Aramco faces serious risks from climate change, report says

November 21, 2019 11:21 am

Water levels in the Arabian Sea, near where much of Aramco’s infrastructure is located, are expected to rise by about 13 centimetres (5.1 inches) by 2030, the consultant said.

Saudi Arabia cuts Aramco valuation, boosts loans to get IPO done

November 18, 2019 10:42 am

Aramco will sell just 1.5 per cent of its shares on the local stock exchange, about half the amount that had been considered, and seek a valuation of between $1.6 trillion and $1.71 trillion.

Saudi Aramco valuation set at up to $1.7 trillion, no overseas roadshows for IPO

November 17, 2019 1:57 pm

Aramco's float is the centrepiece of Crown Prince Mohammed bin Salman's plan to diversify the world's top crude exporter away from oil.

Aramco IPO prospectus flags peak oil demand risk in 20 years

November 11, 2019 12:24 pm

Aramco used a forecast from industry consultant IHS Markit Ltd. that forecasts oil demand to peak around 2035. Under that scenario, demand growth for crude and other oil liquids will be “leveling off” at that time. In an accompanying chart, the Saudi oil giant showed global oil demand lower in 2045 than in 2040.

Will Prince Mohammed Bin Salman's $2 trillion target for Aramco IPO backfire?

November 05, 2019 1:50 pm

A disappointment — if, say, Aramco fails to attract investor interest and the share price sinks when trading starts — could backfire on 34-year-old Crown Prince Mohammed bin Salman.