Energy giant advances upstream projects, boosts AI capacity and renewables, declares $42.7 billion in dividends despite lower crude prices RIYADH: Saudi Aramco (2222.SE), the world’s largest oil exporter, reported a robust financial performance for the first half of 2025, posting an adjusted net income of $50.9 billion despite lower crude prices and geopolitical headwinds. The…
The Government of the Kingdom of Saudi Arabia (the “Government“) and Saudi Arabian Oil Company (Saudi Aramco), the world’s largest integrated energy and chemicals company (the “Company“), today announce the launch of a secondary public offering of ordinary shares of the Company (the “Offering“) by the Government that will commence on Sunday, 2 June 2024….
DUBAI : Saudi Aramco is in talks to buy a 10 per cent stake in Shandong Yulong Petrochemical Co, it said on Wednesday. Shandon Yulong is building a refinery complex that can process 400,000 barrels of crude a day in eastern China’s Shandong province. Aramco and the firm have signed a memorandum of understanding to…
BlackRock, the world’s largest asset manager, announced Monday that Amin Nasser, the CEO of Saudi Aramco, the world’s largest oil company, is joining its board of directors. The move reflects BlackRock’s emphasis on the Middle East as part of its long-term strategy, as well as its recognition of the global energy transition and the shift…
SYDNEY, AUSTRALIA: Saudi Arabian Oil Company (Saudi Aramco) has awarded in-Kingdom and out-of-Kingdom contracts to extend Worley’s services for Saudi Aramco’s offshore Maintain Potential Program. Under the contracts, Worley will continue to provide project management, engineering, design, fabrication and installation supervision for Saudi Aramco’s portfolio of offshore projects. The term of the extension is three…
DUBAI: Arabtec Holding PJSC, a leading contractor for social and economic infrastructure, announced that its wholly-owned subsidiary, Target Engineering Construction Company, has been awarded around SAR 200 million contract by Saudi Aramco for the replacement of five storage tanks at Ras Tanura Refinery in Eastern Province, Saudi Arabia. Target’s scope of works includes the replacement…
DUBAI: Saudi Arabian Oil Co (Saudi Aramco) has purchased 70 percent stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF) for SAR 259.125 billion (US$ 69.1 billion), equating to SAR 123.39/share. Public Investment Fund (PIF) is the Sovereign Wealth Fund of Saudi Arabia. Following the receipt of all necessary regulatory clearances…
DHAHRAN: Saudi Aramco has announced that its proposed acquisition of a 70% majority stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia (PIF) has received unconditional clearance from the European Commission. With this, the proposed acquisition has now received unconditional clearance in all jurisdictions in which pre-notification antitrust filings…