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  • Saudi Aramco to invest in $7 bln petchem project in South Korea

    The project, named Shaheen, is the Saudi company's biggest investment in South Korea and will mark the first commercial use of Aramco and Lummus technology to produce chemicals from crude, Aramco said in a statement.

  • Saudi Aramco Eyes Hydrogen Deals in Japan

    Al-Falih said that the Saudi-Japan Vision 2030 meeting came just before Saudi Arabia’s Crown Prince Mohammed Bin Salman’s state visit to Japan from Nov. 19-21. The minister said that 89 of the initiatives from the vision are “being materialized, with some already completed.” He added that it was important to not only to ensure the quantity of these initiatives, but to also emphasize their quality.

  • Saudi Aramco to ship full oil contract volumes to Asia in December

    Saudi Aramco has told at least four refinery customers in North Asia they will receive full contract volumes of crude oil in December, several sources with knowledge of the matter said on Thursday. The producer is maintaining a steady supply to Asia despite the decision by the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known as OPEC+, to lower the group's output target by 2 million barrels per day (bpd) starting this month.

  • Saudi Aramco Eyes Hydrogen Deals in Japan

    Al-Falih said that the Saudi-Japan Vision 2030 meeting came just before Saudi Arabia’s Crown Prince Mohammed Bin Salman’s state visit to Japan from Nov. 19-21. The minister said that 89 of the initiatives from the vision are “being materialized, with some already completed.” He added that it was important to not only to ensure the quantity of these initiatives, but to also emphasize their quality.

  • Saudi Aramco signs $735 million crude supply deal with China

    China’s privately-owned refinery Zhejiang Petroleum & Chemical Co (ZPC) signed a purchase deal with Saudi Arabian state oil producer Saudi Aramco for supply of 7.88 million barrels of crude oil, Chinese government-backed newspaper Zhoushan Daily reported. The deal, worth $735 million, was sealed during the weekend at the 5th China International Import Expo in Shanghai.

  • China’s ZPC signs oil purchase deal with Saudi Aramco, paper reports

    Privately-owned Chinese refiner Zhejiang Petroleum & Chemical Co (ZPC) has signed a purchase deal with Saudi Arabian state oil producer Saudi Aramco (2222.SE) for 1.08 million tonnes (7.88 million barrels) of crude oil, government-backed Chinese newspaper Zhoushan Daily reported on Monday. The 5.3 billion yuan ($735 million) deal was sealed at the 5th China International Import Expo in Shanghai over the weekend. The report did not disclose the timeframe of the purchase deal. ZPC confirmed the deal without providing any details.

  • 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.