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  • Vela-Bahri merger creates one of the world’s largest shipping firms
     

    Vela International Marine Limited, a subsidiary of Saudi Arabian Oil Company, signed a landmark merger agreement with the National Shipping Company of Saudi (Bahri), resulting in the creation of one of the world’s largest shipping companies.The signing of the agreement was held Sunday and attended by executive officials of both parties including Khalid A. Al-Falih, […]

     
  • Saudi Mortgage Law: Key Details Still to be Determined
     

    Saudi Arabia faces housing challenges caused by rapid population growth and an inflow of expatriate workers to the kingdom.

     
  • The Island of the Arabs
     

    So in 1954 when Aramco’s New York office decided to produce a feature film about Saudi Arabia and the company’s role in the kingdom, they chose Dick Lyford to direct it. The film called Island of the Arabs begins with the early geologists landing in Jubail and then exploring in the desert. While sitting around […]

     
  • Saudi Aramco to invest in new energy ventures
     

    Saudi Aramco has launched an investment arm to buy into companies that have developed technologies of strategic importance to Saudi Arabia and speed their deployment in the kingdom, the state-run energy group said. Saudi Aramco Energy Ventures LLC (SAEV) plans to invest in start-up and high-growth ventures offering new technologies to the upstream and downstream […]

     
  • Study finds ’80 more years of Saudi oil at current production levels’
     

    Saudi Arabia, the biggest oil producer in the world with a proven reserve of 264 billion barrels, could continue oil supplies for the next 80 years at the current production levels, the Kuwait-based Diplomatic Center for Strategic Studies (DCSS) said in a study. Saudi Arabia retains 38.7 percent of world oil reserves whereas the shares […]

     
  • In Major Shift, Saudi Aramco Dabbles in Oil Trading
     

    Saudi Arabia has long been a dominant force in global oil markets, “but has never been an oil trader.” That changed on January 1st, 2012, when Saudi Aramco began operations at Aramco Trading, a wholly owned company subsidiary. The new Aramco Trading marks an expansion in Aramco’s downstream investment portfolio in the Kingdom and overseas, […]

     
  • At the SACM Career Fair in Washington, Saudi Arabia’s Brightest Are Met With Opportunities (PHOTOS)
     

    Across the United States, around the end of the month of May every year, graduating students from high schools and universities join with families and friends to celebrate their achievements in

     
  • SACM Career Fair and Graduation Ceremony Begins in Washington
     

    Saudi students from around the United States are descending on the U.S. capital for a graduation ceremony and career fair organized by the Saudi Arabian Cultural Mission (SACM) on May 26-27. SACM, in coordination with the Saudi Ministry of Higher Education, will host the SACM Career Fair and Graduation Ceremony this weekend at the Gaylord […]

     
  • Opening the TASI: What You Need to Know
     

    Saudi Arabia, the world’s largest oil exporter and the Middle East’s biggest economy, is about to complete a gradual process to open its stock market, known as the Tadawul or TASI, directly to international investors for the first time.  The initial step toward this action was to give other GCC countries the right to invest […]

     
  • Island in the Gulf – A Film of Juraid Island
     

    One of the great joys of living in Saudi Arabia has always been the natural environment itself – the dunes, the jebals and especially the Gulf with its beaches, reefs and islands. For those lucky enough to visit Juraid Island, fifteen miles offshore from Jubail, the experience has always been unforgettable. A pristine island shaped […]

     

MUST-READS

  • Aramco and Cognite join forces to launch new data venture in Saudi Arabia

    Saudi Aramco and Cognite, a global leader in industrial software, announced on Sunday launching CNTXT; a joint venture based in Saudi Arabia which aims to support the Kingdom’s industrial digitalization, and the wider MENA region. “CNTXT will provide digital transformation services enabled by advanced cloud solutions and leading industrial software. These solutions and services aim to help public and private sector companies to future-proof their data infrastructure, increase revenue, cut costs and reduce risks while enhancing operational sustainability and security,” Aramco said in a press release.

  • Saudi Aramco leads $50 million Series B round Wahed

    Wahed Inc. (Wahed), a New York based global Islamic fintech company, today announced that Wa’ed Ventures, the venture capital arm at Saudi Aramco Entrepreneurship Center (Wa’ed), is leading their $50 million Series B funding round. Other investors in this round include footballer Paul Pogba, who has also joined Wahed as their latest brand ambassador, and strategic family offices and institutions.

  • Saudi Aramco to invest in 12GW of PV solar and wind capacity by 2035

    The report, issued on 15 June, also revealed the oil company’s target to reduce the carbon intensity of its upstream sector by 15 per cent by 2035. The energy major is also planning to produce 11 million metric tonnes (mt) a year of blue ammonia by 2030 as part of plans to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions from its assets by 2050.

  • Saudi Aramco May Merge Trading Units Ahead Of IPO

    Citing two unnamed sources “familiar with the matter”, Reuters reported that the merger and restructuring of the two trading arms could take place by the end of this year. Motiva Trading is the trading arm of Motiva Enterprises, which owns the largest refinery in the United States, in Port Arthur, Texas. The refinery has a production capacity of 630,000 barrels per day.

  • Aramco’s former executive appointed as first female on Saudi Central Bank’s board

    Sheila Al-Rowaily, who worked as a financier with Saudi Aramco, has become the first woman to join the board of directors of Saudi Central Bank. The bank, also known as SAMA, confirmed the appointment in a statement, citing a royal decree. Al-Rowaily is the CEO of Wisayah Investment Co. since 2019, and is also a board member of Saudi Aramco Power Co. and Hassana Investment Co.

  • Saudi Aramco raises July OSPs for Asia, Europe while holding US prices

    Saudi Aramco raised all of its official selling prices across Asia, Europe and the Mediterranean for July-loading cargoes and kept US differentials unchanged, with Asia-bound barrels seeing the largest increases of between $1.80/b and $2.75/b, according to a pricing document released June 5.

  • Saudi Aramco in massive offshore rig fleet expansion push

    Aramco’s ambitious offshore rig expansion comes at a time when the company has reported a record quarterly profit of $39.5 billion from soaring oil prices. Saudi Arabia is rapidly scaling up its oil production, with Aramco expected to boost its production capacity to 13 million barrels per day by 2027, up from the present 12 million bpd capacity.

  • Saudi Aramco in massive offshore rig fleet expansion push

    Saudi Aramco, the world’s largest oil exporter, is embarking on a massive offshore rig contracting spree, with more than 30 jack-up rigs likely to be chartered by the state-owned giant in an ongoing contracting drive. A total of 26 new jack-up contract awards have been made by Aramco since March, with another five expected within the next month, according to upstream-focused consultancy Westwood Global Energy.

  • Saudi Aramco Said to Consider Buying Valvoline’s Petroleum Unit

    Saudi Aramco is considering buying a unit of Valvoline Inc. that sells lubricants and other automotive products as the state-owned oil giant seeks to expand globally, people familiar with the matter said. Aramco made an approach to Valvoline to buy its global products business, the people said, asking not to be identified as the matter is private. Talks are ongoing and there is no guarantee that the two parties can reach an agreement, the people said.

  • Saudi Aramco Weighs IPO of Trading Unit Amid Boom in Oil Prices

    Saudi Aramco is considering an initial public offering of its trading arm amid a boom in oil prices in what could be one of the world’s biggest listings this year, according to people with knowledge of the matter. The state-controlled oil major is working with banks including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley as it studies a potential listing of Aramco Trading Co., the people said, asking not to be identified as the information isn’t public.