SUSTG.com / Research

Discover stories, topics, and more about Saudi Arebia faster.

Recent stories from sustg

MUST-READS

  • Saudi Aramco and IBM aim to establish an Innovation Hub in Saudi Arabia

    The collaboration aims to support high-tech driven economic growth in the Kingdom of Saudi Arabia leveraging emerging technologies in hybrid cloud, AI, and quantum computing to address objectives including circular economy, materials science, supply chain, sustainability, security, and digitization.

  • Saudi Aramco Q3 output reaches 14.4 mil b/d of oil equivalent

    Saudi Aramco's total hydrocarbon output reached 14.4 million b/d of oil equivalent in the third quarter of 2022, as Saudi Arabia, the world's largest oil exporting country brought on more supply to the oil markets over summer, the company said during its Q3 financial results Nov. 1.

  • Oil giant Saudi Aramco’s quarterly profit surges 39% on higher prices

    Net income rose to $42.4 billion for the quarter, up from $30.4 billion the previous year and just above expectations. The Saudi company also reported an increase in free cash flow to a record $45 billion from  $28.7 billion one year prior and paid out its second-quarter dividend of $18.8 billion. Its third-quarter dividend of the same amount is due to be paid out in the fourth quarter.

  • Saudi Aramco launches sustainability fund

    Saudi entities are already involved in some of the sectors Aramco’s fund will focus on. Earlier this week, a Saudi company signed a green hydrogen agreement with South Africa. The Saudi Public Investment Fund also just created a company that will work to reduce carbon emissions.  In August, a Saudi firm agreed to build a green hydrogen plant in Egypt.

  • Saudi Wealth Fund Teases The Sale Of Its $85-Billion Aramco Stake

    Al-Rumayyan said that investors and analysts should “stay tuned” for news on the fund potentially selling down its stake in the state oil giant, which is the world’s largest oil company by production and market value. At the beginning of this year, the Saudi government transferred a 4% stake in Aramco to the Kingdom’s Public Investment Fund to boost its credit rating and financial position.

  • Saudi Wealth Fund PIF Head Says ‘Stay Tuned’ on Aramco Stake Sale

    The governor of Saudi Arabia’s sovereign wealth fund says people should “stay tuned” for news on it selling down an $85 billion stake in Aramco. The $620 billion Public Investment Fund owns 4% of Aramco, which the government transferred to it in February. Bloomberg reported soon after that the PIF had started discussions about how to monetize the holding and raise funds for its ambitious investment goals.

  • Saudi Downtown and Aramco sign MoU to support SMEs sustainability and growth in Saudi cities

    Saudi Downtown Company, a fully-owned subsidiary of the Public Investment Fund that will develop downtown projects in 12 Saudi cities, and Aramco, signed a Memorandum of Understanding (MoU) for collaboration to create opportunities for local SMEs, enhance their sustainability, and enable them to grow in a number of Saudi cities.

  • Saudi Aramco Pushes Ahead With IPO of Oil-Trading Unit

    The world’s largest oil company is working with advisers for a listing in Riyadh for the end of the year or early 2023, the people said, asking not to be identified as the matter is private. Aramco is in the process of adding more banks to the IPO, which could value the unit at more than $30 billion, the people said.

  • Aramco launches Taleed programme to accelerate SME growth in Saudi Arabia

    The program targets sustainable SME growth across multiple sectors through a portfolio of 20 initiatives, providing a wide range of support from capability building and strategy development, to training, market access, advisory services and business planning.

  • Saudi Aramco to push ahead with IPO of oil-trading unit

    Saudi Aramco (2222.SE) is pushing ahead with plans for an initial public offering of its energy-trading business and is targeting a listing in Riyadh for the end of the year or early 2023, Bloomberg News reported on Wednesday. The world's top oil producer is in the process of adding more banks to the IPO, which could value the unit at more than $30 billion, Bloomberg reported, citing people familiar with the matter.