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The Latest Breaking News from Aramco

Energy secretary flown around Saudi Arabia by oil firm 'shows UK's hypocrisy'

Kwarteng was flown to various cities in the Saudi kingdom by majority state-owned oil firm Aramco

The National (Scotland)

Greg Norman sees a women’s LIV Golf league in the future. But how many would jump?

"The opportunity is there," Greg Norman said about starting a women's LIV Golf league. But how many on the LPGA would jump to a potential new league?

USA Today Sports Media Group

Timeline: U.S.-Saudi ties through good times and bad

U.S. President Joe Biden visits Saudi Arabia at a rocky time in relations, which have been tested by the killing of Washington Post journalist Jamal Khashoggi and the Yemen war.

Reuters

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Aramco Expands Namaat Industrial Investment Programs

Saudi Aramco announced on Tuesday a major expansion of its Namaat industrial investment programs, with 55 agreements and Memoranda of Understanding (MoUs) across the sustainability, digital, industrial, manufacturing and social innovation sectors. Namaat, which has grown from 32 to 55 investments since last year, supports industrial investment partnerships, helping to…

Asharq Al-Awsat

Saudi Aramco, Cognite Join Forces in New Data Venture

Saudi Aramco and Cognite have launched CNTXT, a joint venture based in Riyadh to support industrial digitalization of the Kingdom and the wider MENA region. CNTXT will provide digital transformation services enabled by advanced cloud solutions and leading industrial software.

Asharq Al-Awsat

Non-government Members Appointed on Saudi Central Bank’s Board

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, has agreed to appoint five non-government members to the Board of Directors of the Saudi Central Bank to lead the Kingdom’s financial sector. Sheila Al-Rowaily, who worked with Saudi Aramco, has become the first woman to join the board…

Asharq Al-Awsat

Google Cloud Chief Clarifies Aramco Deal Is Not For Oil Production

Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Cloud head Thomas Kurien clarified that its deal with oil giant Saudi Aramco did not include oil production, Bloomberg reports. “We work with Aramco system integration division, not with the oil-and-gas division,” Kurian said. Google’s critics, including its employees, have claimed that providing cloud tools to oil-and-gas…

Benzinga

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Google to Open Two New HQs in Saudi Arabia

American multinational technology company Google is preparing for launching two new headquarter offices in the Kingdom of Saudi Arabia. The planned offices will open in the cities of Riyadh and al-Dammam. Google also is building a data partnership with Saudi oil giant, Aramco. Google drove about SR12.2 billion ($3.25 billion)…

Asharq Al-Awsat

Aramco CEO Warns of Global Oil Crunch Due to Lack of Investment

The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green energy pressures, the head of Saudi Aramco told Reuters, adding it cannot expand production capacity any faster than promised. Amin Nasser, head of the world's largest oil…

Asharq Al-Awsat

Valaris, IBD Stock Of The Day, Flaunts Bullish Pattern, Deals With Oil Giant Saudi Aramco

Valaris stock eyes a 350% earnings jump. VAL has rallied with oil prices, deals with oil giant Saudi Aramco.

Investors Business Daily

Saudi expects 13 million bpd oil capacity by 2027: minister

Manama (AFP) - Saudi Arabia expects to ramp up its daily oil production capacity by more than one million barrels to exceed 13 million barrels by early 2027, the kingdom's energy minister announced Monday.

AFP

Saudi oil giant Aramco reports 82% rise in quarterly profits

Investors to get $4bn in bonus shares after record earnings of $39.5bn on higher demand and crude prices

The Guardian - UK

Saudi Aramco says Q1 profits jump 82% as oil prices surge

Riyadh (AFP) - Saudi Aramco on Sunday posted an 82-percent jump in first quarter profits, buoyed by a global surge in oil prices that has made it the world's most valuable company.

AFP

Saudi oil giant Aramco's first-quarter profits surge 80%

Oil giant Saudi Aramco says its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and soaring oil prices following Russia’s invasion of Ukraine

The Independent UK

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Asharq Al-Awsat

Saudi Aramco's First-quarter Profits Surge 80%

Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year. The state-backed company’s first-quarter earnings show a record net income of $39.5 billion, up from $21.7 billion during the same period last year. Already, resurgent economic activity and the relaxation…

Asharq Al-Awsat

Saudi Aramco, Thailand’s PTT Sign MoU to Deepen Energy Cooperation

Saudi Aramco and Thailand’s PTT have signed a memorandum of understanding (MoU) to deepen energy cooperation in Thailand. The MoU targets the supply and trading of crude oil, petrochemicals, and liquified natural gas (LNG). It focuses on clean energy, carbon capture, and electric vehicles, and outlined potential collaboration across both…

The Street

Has Apple Stock Peaked?

Longtime high-flying tech giant has been toppled from its position as the most valuable company in the world by a distinctly old-fashioned industrial company.

The Guardian - UK

Saudi Aramco overtakes Apple as world’s most valuable company

Soaring commodity prices swell oil giant’s profits as tech stock slide pegs back iPhone maker

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AFP

Saudi Aramco becomes world's most valuable company, dethroning Apple

San Francisco (AFP) - Saudi Aramco on Wednesday dethroned Apple as the world's most valuable company as surging oil prices drove up shares and tech stocks slumped.

Asharq Al-Awsat

Saudi Arabia Cuts Oil Prices to Asia by More than 50%

Saudi Arabia cut oil prices for buyers in Asia as coronavirus lockdowns in China weigh on demand, countering uncertainty around Russia’s supplies as the Ukraine war drags on. Aramco is expected to cut the official selling price (OSP) for flagship Arab Light crude to Asia in June by more than…

AFP

Dubai's DEWA shares soar in Gulf's biggest IPO since 2019

Dubai (AFP) - Shares in the Dubai Electricity and Water Authority rose nearly 16 percent on Tuesday in the Gulf region's biggest initial public offering since Saudi oil giant Aramco in 2019.

Asharq Al-Awsat

Saudi Dussur Signs 4 Joint Ventures, Global Acquisition Deal

The Saudi Arabian Industrial Investments (Dussur) announced the signing of five new shareholders' agreements, including four joint ventures and one global acquisition deal. Dussur, owned by PIF, Aramco, and SABIC, signed the agreement at a special event attended by Minister of Energy and Investment Prince Abdulaziz bin Salman, Minister of…

Asharq Al-Awsat

US Imposes Sanctions on Key Actors in Iran’s Ballistic Missile Program

The United States on Wednesday imposed sanctions on an Iran-based man and his network of companies it accused of helping Tehran obtain materials for its ballistic missile program, acting after missile attacks by suspected Iranian-backed proxies on countries in the region. In a statement issued as talks on reviving the…

Asharq Al-Awsat

Saudi Entities Coordinate to Facilitate Issuing 'Entrepreneurship' Licenses in the Kingdom

Saudi Minister of Investment Khalid al-Falih announced that visiting Saudi Arabia in 2030 will be an opportunity for work, stability, investment, and future building. Falih indicated that the economic development in the Kingdom would lead to the development of the entire region, noting that Ministries of Investment and Commerce are…

Tribune News Service

Saudi-led coalition strikes Yemen after Aramco depot attack

A Saudi-led coalition fighting Houthi rebels in Yemen launched airstrikes against sites in the southern Arabian country in response to multiple attacks Friday, including one that caused a fire at an Aramco fuel depot in Jeddah.

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