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The Latest Breaking News from Saudi Aramco

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

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

Apple Loses A Major Title

The iPhone and Mac maker has suffered in recent days from the stock market rout.

The Street

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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…

Asharq Al-Awsat

The Guardian view on carbon bombs: governments must say no

Editorial: Oil companies and petrostates are investing heavily in fossil fuels, in defiance of global targets. They must be stopped

The Guardian - UK

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 Street

Data Is The New Oil? Not Yet! Saudi Aramco Surpasses Apple To Become Most Valuable Company

Saudi Aramco has beaten Apple Inc (NASDAQ: AAPL) to become the most valuable company,

Benzinga

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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

The Guardian - UK

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.

AFP

Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown

Exclusive: Oil and gas majors are planning scores of vast projects that threaten to shatter the 1.5C climate goal. If governments do not act, these firms will continue to cash in as the world burns

The Guardian - UK

Fitch Upgrades Saudi’s PIF Outlook to ‘Positive’

Ratings agency Fitch on Friday revised the outlook on Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), to "positive" from "stable" following a similar action on the country. It also affirmed the PIF's rating at "A". Fitch had cited improvements in Saudi Arabia's balance sheet due to higher…

Asharq Al-Awsat

Saudi Aramco Raises Asia Official Selling Price

Saudi Aramco raised its May official selling price (OSP) to Asia for its flagship Arab Light crude to $9.35 a barrel above Oman/Dubai crude, its highest premium ever. Oil jumped more than 3 percent on Monday to $108 a barrel as the release of strategic reserves by consuming nations failed…

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

Konkan locals protest against proposed mega oil refinery project

Work on the stalled RRPCL project is set to resume at a new location in Ratnagiri

The Hindu

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Asharq Al-Awsat

Arab Coalition: Act of Aggression Targets Aramco’s Bulk Plant in Jeddah

The Saudi-led Arab coalition said Friday that Saudi Aramco’s Bulk Plant in Jeddah was the target of an attack. Official Spokesperson of the Coalition to Restore Legitimacy in Yemen Brigadier General Turki Al-Malki said: "At 17:25, Saudi Aramco’s Bulk Plant in Jeddah was targeted with an act of aggression, the…

AFP

Yemen rebel attack on Saudi oil plant sets off huge fire by F1 track

Jeddah (Saudi Arabia) (AFP) - Yemeni rebels attacked a Saudi Aramco oil facility setting off a huge fire visible from Jeddah's Formula One track as part of a wave of attacks on Friday.

Al Jazeera

Saudi Aramco’s Jeddah oil depot hit by Houthi attack

Saudi Arabia announces ‘military operation’ in Yemen following series of drone and rocket attacks on the kingdom.

Reuters

Saudi Aramco Jeddah storage facility hit by attack - source

A Saudi Aramco storage facility has been hit by an attack in Jeddah, a source told Reuters.

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The Guardian - UK

Inflation pressures hit consumer confidence; Moscow stock market falls back – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Saudi Aramco to increase oil production to meet global demand

Saudi Arabia’s state oil company also reports its net profit rose by 124% to $110bn (£83bn) in 2021

Tribune News Service

Houthis target Aramco sites in Saudi Arabia using drones

Yemen’s Houthi rebels attacked at least six sites across Saudi Arabia late Saturday and early on Sunday, including some run by state oil giant Saudi Aramco.

Tribune News Service

Houthis target Aramco sites in Saudi Arabia using drones

Yemen’s Houthi rebels attacked at least six sites across Saudi Arabia late Saturday and early on Sunday, including some run by state oil giant Saudi Aramco.

AFP

Saudi Aramco reports profit surge on day sites hit by Yemen rebels

Riyadh (AFP) - Oil giant Saudi Aramco reported Sunday a 124 percent net profit surge for last year, hours after Yemeni rebels attacked its facilities causing a "temporary" drop in production.

AFP

Saudi Aramco says annual profit more than doubled in 2021

Riyadh (AFP) - Saudi Aramco's net profit soared 124 percent last year as global growth recovered from the Covid-19 downturn, the oil giant announced Sunday, hours after Yemen's Huthi rebels targeted some of its sites.

Asharq Al-Awsat

Saudi Aramco 2021 Profit Soars, Plans Capex Boost in 2022

Saudi Arabian state oil giant Aramco on Sunday reported a more than doubling of annual net profit in 2021, boosted by higher oil prices, and announced plans to sharply lift capital expenditure in 2022. The oil giant has benefited from a more than 50% rise in crude prices last year,…

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