Aramco Team Series: Why the Saudi energy and chemical giant is backing women’s golf June 14, 2022 Aramco public affairs general manager Talal Al-Marri explains why the Saudi energy and chemicals giant became one of the biggest backers of women’s golf via the Aramco Team Series, and what the company looks for in a sports sponsorship. Q. How did you come to be title partners of the Aramco Team Series? A. We [...]
Saudi Aramco brings in record $39.5bn income as oil prices surge May 16, 2022 Saudi Aramco generated $39.5bn (£32.3bn) in income in the first quarter of 2022, after volatile commodity prices saw its income increase by 82 per cent compared to the same time last year. The almost $40bn worth of income marks a record for Saudi Arabia’s national oil company in coming as its highest quarterly earnings since [...]
Aramco revels in record profits powered by booming oil prices May 15, 2022 Saudi Aramco (Aramco) has reported a massive 82 per cent spike in profits over the first three months of the year powered by lucrative oil trading.
Apple knocked off perch as world’s most valuable firm by oil giant Saudi Aramco May 12, 2022 Apple has been knocked off its perch of the world’s most valuable company by Saudi Aramco. The oil giant topped $2.426tn this on Wednesday, overtaking the iPhone-maker at $2.415tn, representing just over £10bn. This is the first time the state-backed Saudi Aramco has taken the top spot since 2020 according to the The Financial Times, [...]
Saudi Aramco ramps up oil and gas spending after doubling profits to $110bn March 21, 2022 The world’s largest oil producer is set to ramp up its spending power to meet oil and gas demand, after surging global prices allowed the oil giant to double its profit. Saudi Aramco announced yesterday that it would hike its investment by around 50 per cent this year, to between $40bn and $50bn (£30bn, £38bn). [...]
HSBC pushes further into Saudi Arabia: Canary Wharf approves $10bn loan so mass polluter Saudi Aramco can expand January 27, 2022 HSBC is in line to finance a $10bn revolving credit facility to one of the world’s biggest polluters, the Saudi Arabian Oil Company, or Saudi Aramco, despite the bank’s commitment to ‘Net Zero emissions by 2050’. HSBC’s latest venture in the Middle Eastern kingdom, in partnership with Standard Chartered, is likely to draw scrutiny from [...]
Saudi Aramco’s lofty $30bn profits boosted by high oil prices October 31, 2021 Saudi Aramco has reaped the rewards of higher oil prices, having pulled in more than $30bn in net income in its third quarter. The earnings have surged an eyewatering 158 per cent – its highest income since listing on the Saudi stock exchange in 2019 – in comparison with the same period last year, when [...]
Fill it up: Saudi Aramco mulls an IPO for its retail fuels business October 7, 2021 Oil giant Saudi Aramco is said to be considering an IPO for its retail fuels and lubricants business. Saudi Aramco, one of the world’s most valuable companies, want to pursue the float plans so that it can maintain its multi-billion-dollar dividend policy, Bloomberg reports. The unit is reasonable new, having only been set up as [...]
Saudi Aramco sizes up private equity and sovereign funds for $17bn gas pipeline stake August 16, 2021 Saudi Aramco is looking to raise at least $17bn from the sale of a significant minority stake in its gas pipelines, sources told Reuters today. A sale that large for a slice of the pipeline deal would be higher than the $12.4bn raised from its oil pipeline deal. Potential bidders including North American private equity [...]
Aramco posts fourfold rise in profit as oil prices bubble up August 9, 2021 Oil behemoth Saudi Aramco saw its second quarter profit jump fourfold on the back of rising crude prices and increased demand for fuel. The world’s biggest oil producer said that its net income rose 288 per cent in the last quarter to $25.5bn (£18.4bn). Analysts had expected the firm to make a net profit of [...]