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The Latest Breaking News from Saudi Aramco

The Kingdom Declares Saudi Green Initiative an Annual Event

Saudi Energy Minister Prince Abulaziz bin Salman announced on Friday that the Green Saudi Initiative forum would be an annual event in order to review the implementation of the Kingdom’s climate goals. “Crown Prince Mohammed bin Salman decided to hold the initiative annually; because we are confident in our steps,…

Asharq Al-Awsat

Oil and gas firms planning ‘frightening’ fossil fuels growth, report finds

Analysis released at Cop27 climate summit shows plans would thwart chances of keeping global heating to 1.5C

The Guardian - UK

Saudi Arabia Registers Jump in Foreign Direct Investment Inflows

Foreign direct investment flows recorded a growth of 46.5% during the second quarter of this year, compared to the same period of 2021, after excluding the Saudi Aramco deal amounting to 46.5 billion riyals ($12.4 billion). Last year, Aramco forged a pipeline infrastructure deal worth 46.5 billion riyals ($12.4 billion)…

Asharq Al-Awsat

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Bumper profits raise pressure on oil majors

Saudi Aramco makes $42.5bn quarterly profits as BP steps up share buybacks

Financial Times

Saudi Aramco Posts 39% Jump in Third-quarter Profits

Saudi Aramco on Tuesday posted a 39-percent jump in third-quarter profits year on year, the latest financial results boosted by higher oil prices and volumes sold. The energy giant's net income totaled $42.4 billion -- up from $30.4 billion during the same period last year -- and was "primarily driven…

Asharq Al-Awsat

Oil giant Saudi Aramco has $42.4B profit in third quarter

Oil giant Saudi Aramco is reporting a $42.4 billion profit in the third quarter of this year, buoyed by higher global energy prices that have filled the kingdom’s coffers but helped fuel inflation worldwide

The Independent UK

Petronas says assessing fire damage at Malaysian joint venture with Aramco

KUALA LUMPUR: Malaysian state energy firm Petronas said on Tuesday it was studying the damage to interconnecting pipes caused by a fire last week at its refinery and petrochemical joint venture with Saudi Aramco.

Bangkok Post

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Saudi Arabia to Create Largest Venture Capital Fund Globally

Saudi Aramco announced on Wednesday the creation of a $1.5 billion sustainability fund to invest in technology to support a stable and comprehensive energy transition. This is considered one of the largest sustainability-focused venture capital funds globally. Aramco’s decision to start the fund aligns with Saudi efforts to reduce greenhouse…

Asharq Al-Awsat

Saudi Aramco Announces $1.5 Bln Sustainability Fund

Saudi Aramco announced on Wednesday the creation of a $1.5 billion Sustainability Fund to invest in technology that can support a stable and inclusive energy transition. It was unveiled at the sixth edition of the Future Investment Initiative (FII) and is among the largest sustainability-focused venture capital funds globally. Managed…

Asharq Al-Awsat

Brit oil boss reveals how he was JAILED in India after being caught with satellite phone

Fergus MacLeod, who works for the oil company Saudi Aramco, says he spent a week locked up in an Indian jail alongside some 'very serious' convicts after accidently breaching the country's strict rules.

Daily Mirror

British businessman jailed after ‘taking phone to Himalayan yoga retreat’

Oil executive spent one week in jail

The Independent UK

Elon Musk says Tesla will be bigger than Apple. Analysts say not so fast

Elon Musk sees Tesla Inc. becoming bigger than the combined valuation of Apple Inc. and Saudi Aramco one day. Wall Street is saying, not so fast.

Tribune News Service

Tesla Could Be Worth More Than Apple, Saudi Aramco Combined: Musk

Elon Musk says the path to reach a $4.4 trillion valuation will be very difficult and require incredible execution, massive amount of hard work and some luck.

InsideEVs

Elon Musk Says Tesla Can Exceed Market-Cap Of 'Apple And Saudi Aramco Combined;' Addresses Buyback, Cheaper Model Outselling All Vehicles And More At Q3 Earnings Call

Tesla Inc.’s (NASDAQ: TSLA) third-quarter results fell short of topline expectations and the stock reacted with a move to the downside.

Benzinga

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Asharq Al-Awsat

Aramco Establishes 2 Offshore Fabrication Yards in Collaboration with Int’l Partners

Saudi Aramco, in collaboration with international partners, is establishing two offshore fabrication yards that aim to deliver a more than 200 percent increase in Saudi Arabia’s offshore fabrication capacity, announced the company on Monday. The new yards are being constructed in Ras Al Khair in collaboration with National Petroleum Construction…

The Independent UK

Kwasi Kwarteng held undisclosed meetings with Saudi oil firms

Green MP Caroline Lucas urges chancellor to ‘come clean about dealings with Saudi oil giants’

The National (Scotland)

Documents reveal Kwasi Kwarteng's undisclosed meetings with Saudi Arabian oil firms

CHANCELLOR Kwasi Kwarteng held undisclosed meetings with senior executives of Saudi Arabian firms when he was business secretary, according to…

The Guardian - UK

Kwasi Kwarteng’s secret meetings with Saudi oil firms revealed

Exclusive: Meetings while in Saudi Arabia undisclosed due to ‘administrative oversight’, says business department

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The Guardian - AU

Brisbane 2032 Olympics organiser defends sitting on board of fossil fuel company

Andrew Liveris says his position at Saudi Aramco means he ‘knows the solutions’ as he presides over climate-positive games

Asharq Al-Awsat

Saudi Aramco Urges World Unity around New Energy Transformation Plan

President and CEO of Saudi Aramco, Amin bin Hassan Nasser, emphasized the need for a more reliable energy transition plan, in a keynote speech on Tuesday at the Schlumberger Digital Forum. In his speech, Nasser underlined the importance of achieving a new global consensus of views and positions, outlining three…

The Guardian - UK

Saudi Aramco chief says Europe’s plans on energy crisis are not helpful

Amin Nasser says plans to cap bills and tax energy companies are not long-term solutions

Asharq Al-Awsat

Global AI Summit in Riyadh Sees Launch of Center Focused on Facing World Challenges

The Second Global Artificial Intelligence (AI) Summit, underway in Riyadh, witnessed Tuesday the launch of Tammayuz center, which belongs to the “Global AI Corridor” launched by Saudi Aramco in partnership with Beyond Limits, a US-based artificial intelligence company. The center was floated in cooperation with the California Institute of Technology…

The Guardian - UK

Big oil and Opec are holding the world to ransom – it’s time to rein them in

The UN’s call for windfall taxes must be taken up by governments to help break the power of greedy cartels

Bangkok Post

Saudi Arabia cuts oil prices for Asia, Europe

Saudi Arabia cut oil prices for customers in Asia and Europe as Covid-19 lockdowns and sagging economies cool energy demand in the two regions.

Benzinga

Could The Rise Of Natural Gas Demand Lead To A Cease-Fire In Ukraine? Former Saudi Aramco Vice President Thinks So

Dr. Sadad Al Husseini, the former executive vice president of Saudi Aramco and founder of Husseini Energy, a Saudi Arabian energy company, was on CNBC Monday commenting about natural gas supply and demand and the effect of sanctions on Russia and the global economy.

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