(Bloomberg) — Foreign investors were allocated about 60% of the shares on offer in Saudi Aramco’s $11.2 billion stock sale, people familiar with the matter said, marking a turnaround from the oil giant’s 2019 listing that ended up as a largely local affair. Most Read from Bloomberg The deal generated strong demand from the US […]
(Bloomberg) — Aramco will on Sunday kick off a share sale to raise about $12 billion for Saudi Arabia, one of the biggest deals in recent years that will test investor interest in the kingdom’s assets. Most Read from Bloomberg Saudi Arabia is looking to attract more international shareholders after Aramco’s mega IPO five years […]
The Saudi Arabian government is to sell a second sliver of stock worth billions of dollars in state oil giant Aramco. Saudi Aramco, formally known as the Saudi Arabian Oil Company, acknowledged the stock sale in a corporate disclosure online. It put the number of shares being offered at 1.545 billion, priced at between 7.12 […]
Kenya is currently in negotiations with Saudi Aramco to secure a floating LPG facility, reported Bloomberg. This move by President William Ruto’s administration aims to increase the supply and lower fuel costs in Kenya. According to state-owned Kenya Pipeline Company (KPC) CEO Joe Sang, the floating LPG ship, due to be situated off Mombasa’s port, […]
By Yousef Saba and Maha El Dahan DUBAI (Reuters) -Saudi Arabia’s state-owned oil giant Aramco boosted its dividend despite net profit falling 24.7% to $121.3 billion in 2023 on lower oil prices and volumes, showing the state’s continued reliance on oil revenue as it seeks to diversify. The profit, down from $161.1 billion in 2022, […]
DUBAI, United Arab Emirates (AP) — Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices. The results still marked the company’s second highest ever result, Aramco said, as members of the OPEC+ alliance continue to cut their production to […]
Saudi oil giant Aramco has reported a 121 billion US dollar (£94 billion) profit for last year, down from its 2022 record due to lower energy prices. Aramco made the announcement in a filing in Riyadh’s Tadawul stock market. It had reported a 161 billion dollar (£125 billion) profit in 2022, believed to be the […]
By Clara Denina, Sarah McFarlane and Maha El Dahan LONDON/DUBAI (Reuters) -Saudi Arabia and the United Arab Emirates’ national oil companies plan to extract lithium from brine in their oilfields, in line with efforts to diversify their economies and profit from the shift to electric vehicles (EVs), three sources told Reuters. Other oil companies, including […]
Saudi Arabia’s oil giant Saudi Aramco said on Tuesday that it will not try to increase its maximum daily oil production to 13 million barrels a day after receiving an order from the country’s energy ministry. The firm, known formally as the Saudi Arabian Oil Company, said it would maintain its maximum output at 12 […]
FILE – Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021. Saudi Arabia’s oil giant Saudi Aramco said Tuesday, Jan. 30, 2024, it will not try to increase its maximum daily oil production to 13 million barrels a day after receiving an […]