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  • Saudi Arabia Moves Closer to Another Aramco Stock Offering

    Saudi Arabia’s plans for another multibillion-dollar offering of Aramco stock are gaining fresh momentum, with any deal set to be one of world’s largest share sales in recent years, people with knowledge of the matter said. The kingdom has been working with several advisers to study the feasibility of a follow-on offering on the Riyadh exchange, according to the people, who asked not to be identified because the information is private. It could make a decision as soon as the coming weeks about whether to proceed, they said.

  • Aramco profits are more than enough to fund Saudi Arabia

    The increased dividend from the fourth quarter of last year raises the yield to about 4 percent, closer to that of Western peers such as Shell. But, more importantly, it helped the Saudi government’s overall take, including royalties and taxes, decrease only 3 percent to $47 billion despite the oil price drop – a welcome bounty as the kingdom attempts to fund its economic diversification drive. The state oil firm pays by far the most money in dividends of any listed company worldwide.

  • Aramco profits are more than enough to fund Saudi Arabia

    The increased dividend from the fourth quarter of last year raises the yield to about 4 percent, closer to that of Western peers such as Shell. But, more importantly, it helped the Saudi government’s overall take, including royalties and taxes, decrease only 3 percent to $47 billion despite the oil price drop – a welcome bounty as the kingdom attempts to fund its economic diversification drive. The state oil firm pays by far the most money in dividends of any listed company worldwide.

  • Saudi Aramco struggling to find buyers for its blue hydrogen due to high costs

    Amin Nasser told a call with analysts yesterday that blue hydrogen could cost the equivalent of about $250 a barrel of oil — more than three times higher than the current Brent spot price. “It is very difficult to identify any off-take agreement in Europe [for blue hydrogen]... and they explained it's because of the the high cost,” he said.

  • Saudi Aramco to begin bitumen exports from Yanbu

    State-controlled Saudi Aramco will begin bitumen cargo exports in June from Yanbu on the Red Sea coast, home to the 400,000 b/d Yasref refinery. The company's base oils arm Luberef, which will handle the export business, plans to ship its first bitumen cargo of around 5,000t from Yanbu at the end of June. It wants to export up to 500,000 t/yr from the facility. Aramco operates the Yasref refinery in a 50:50 joint venture with China's state-run Sinopec. The move would add to global supply at a time when concerns over bitumen production and availability in many parts of Europe have been heightened by the EU and UK ban on imports of Russian crude, refinery feedstocks and bitumen.

  • Saudi Aramco to Postpone Mega IPO of Energy Trading Unit

    Aramco had been planning to list the business in late 2022 or early this year and was considering seeking a valuation of more than $30 billion, Bloomberg News reported previously. It now feels it could be difficult to list such a large business on the Riyadh bourse at the moment, the people said. The Saudi firm also wants to take more time to complete the integration of its main trading unit with the trading arm of its US refining business Motiva Enterprises LLC before proceeding with the IPO, the people said.

  • Aramco Set to Boost Payouts for Saudi Government and Investors

    Aramco said in March it wanted to grow the dividend over the coming years, after increasing it by 4% in March. It has come under pressure to pay more to boost the attractiveness of the stock relative to rivals such as BP Plc and Shell Plc. The new “performance-linked dividends” will be calculated as 50%-70% of Saudi Aramco’s annual free cash flow, net of the base payout and external investments, the world’s largest energy company said on Tuesday, shortly before it released earnings. The amount will be “determined with the annual results.”

  • Aramco Set to Boost Payouts for Saudi Government and Investors

    Aramco plans an additional dividend, potentially boosting payouts for investors and Saudi Arabia’s government by more than $10 billion, just as weaker oil prices edge the kingdom’s budget into a deficit. The move could increase Aramco’s shareholder payout — which at $75.8 billion last year was already the highest of any listed firm — by more than $20 billion in 2023, according to Bloomberg Intelligence. RBC Capital Markets LLC forecasts an increment of $12 billion to $18 billion.

  • Lower oil prices push Saudi oil giant Aramco’s first quarter profit down 19%

    Saudi oil giant Aramco's (2222.SE) first quarter net profit dropped 19% from a year earlier to 119.54 billion riyals ($31.88 billion), it said on Tuesday, due to lower crude prices. Profit still beat analysts' median forecast of $30.8 billion, according to Refinitiv data, and Aramco said the decline was partially offset by lower taxes including in the zakat Islamic tax and a rise in finance and other income.

  • Saudi Aramco-Owned Sabic Says Inflation Hurting Industry’s Recovery

    The world’s most valuable chemicals maker reported worse-than-expected earnings and said the market remained fragile, with demand in China yet to recover strongly and inflation hurting consumers. Saudi Basic Industries Corp. made net income of 660 million riyals ($176 million) in the first quarter, down 90% from the same period a year earlier and 16% below the average estimate among analysts surveyed by Bloomberg.