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  • Aramco VC Fund Turns to Global Investments in Saudi Startup Push

    Wa’ed will invest about $100 million this year after spending around $50 million over the past nine years, Chief Executive Officer Fahad Alidi said in an interview. Its $200 million fund is planning 11 investments in the second half. On top of fintech and e-commerce, the firm will expand into sectors such as deep tech, space tech the metaverse and sustainability.

  • Nigeria to Implement Saudi Aramco’s Oil Security Architecture

    Nigeria is implementing a security infrastructure similar to that of Saudi’s Aramco to protect its oil pipelines, according to the head of the nation’s state-owned energy company. The new security architecture will be unveiled soon and will help stop massive oil pipeline vandalism that has resulted in the country losing 30% of produced volumes to crude thieves, Mele Kyari, the chief executive officer of the Nigerian National Petroleum Company, said on Tuesday in Abuja, the nation’s capital.

  • High oil prices help Saudi Aramco earn $88 BILLION in the first half of this year

    Saudi energy company Aramco reported that its profits jumped 90% in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion. The increase is a boon for the kingdom and the crown prince’s spending power

  • Saudi Aramco’s NAMAAT expands – The 966

    Aramco expands Namaat industrial investment programs, Arab News reports. The Saudi Arabian Oil Company announced a major expansion of its Namaat industrial investment programs, with 55 agreements and Memoranda of Understanding (MoUs) across the sustainability, digital, industrial, manufacturing and social innovation sectors

  • Saudi Aramco Is Taking A Page Out Of The U.S. Shale Playbook

    While U.S. shale producers are raining wealth on their shareholders, in the form of stock buybacks and special dividends, KSA-94% owner of ARAMCO, has focused on paying down debt, and diversifying its energy portfolio. In some ways mimicking the actions of the mega oil producers like ExxonMobil, (NYSE:XOM) Chevron (NYSE:CVX) and BP (NYSE:BP), by delving into alternative energy forms.

  • Saudi Aramco confirms phased development plan for vast $100 billion gas project

    “The facility for the gas plant will come in two phases. The first phase would come in 2025. And the second phase will come on stream by 2027,” said Aramco chief executive Amin Nasser. The full field development of Jafurah is expected to reach a production capacity of 2 Bcfd by 2030, lifting the company's overall gas production capacity by 50% in the same time frame.

  • Saudi Aramco confirms phased development plan for vast $100 billion gas project

    “The facility for the gas plant will come in two phases. The first phase would come in 2025. And the second phase will come on stream by 2027,” said Aramco chief executive Amin Nasser. The full field development of Jafurah is expected to reach a production capacity of 2 Bcfd by 2030, lifting the company's overall gas production capacity by 50% in the same time frame.

  • Saudi Aramco’s Amin Nasser: a homegrown engineer who reached the top

    Nasser has become highly popular at Aramco by promoting a decentralised culture and spending time with both leaders and workers, analysts say. During the Muslim fasting month of Ramadan, he makes a point of visiting an Aramco field or plant every evening and breaking the fast with crews.

  • Saudi Aramco profits soar by 90% as energy prices rise

    It is thought to be one of the largest quarterly profits in history, when disregarding one-off increases that tend to inflate company earnings, and is Aramco’s highest since its shares were listed on Riyadh’s stock market in December 2019.

  • Saudi Aramco’s Amin Nasser: a homegrown engineer who reached the top

    At an industry event this year in Riyadh, the Saudi energy minister paused at about 9 p.m. in front of some 1,000 people and told them it was bedtime for Amin Nasser, the chief executive of state-owned oil producer Saudi Aramco. He was not joking. Over a career of four decades, Nasser has earned a reputation for a style of dedication that means he will be making sure he's prepared for the challenges of the day ahead, not mingling into the early hours.