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  • Aramco-backed start up Amogy races to develop ammonia as a fuel

    South Korea's SK Innovation has led the latest $46 million funding round for climate tech start-up Amogy, which aims to accelerate the shift to zero-emissions fuels for heavy industries such as shipping, its chief executive told Reuters. With transport accounting for around 17% of the world's greenhouse gas emissions, the company said it aims to help drive the transition to greener fuels by converting carbon-free ammonia to power.

  • Aramco plans 12GW renewables investment

    Saudi Aramco’s plan to invest in 12,000MW of renewable energy by 2030 entails investing in the kingdom’s national renewable energy programme as well as through affiliate investments in renewables and purchase of renewable energy certificates. “Those will likely primarily come in the form of investments in Public Investment Fund’s  (PIF’s) solar and wind projects,” an industry source tells MEED.

  • Saudi Oil Major Aramco Aims to Generate 12 GW of Renewable Energy by 2030

    The oil company aims to establish a framework for in-company renewable applications supported by a mix of grid-connected and off-grid solutions, including office buildings, valve stations, cathodic pipeline protection, bulk plants, and production wells. The report also outlines a pathway for Aramco to achieve net-zero Scope 1 and Scope 2 greenhouse gas (GHG) emissions across all its wholly-owned operating assets by 2050, delivering continued affordable and reliable energy solutions. The company is mulling strategies to mitigate more than 50 million metric tons of CO2 equivalent annually by 2035, both in its upstream and downstream segments.

  • Saudi Oil Major Aramco Aims to Generate 12 GW of Renewable Energy by 2030

    The sustainability report highlights Aramco’s plans to reduce the energy consumption at all of its facilities, design new energy-efficient units, and increase overall energy efficiency across domains. The oil company aims to establish a framework for in-company renewable applications supported by a mix of grid-connected and off-grid solutions, including office buildings, valve stations, cathodic pipeline protection, bulk plants, and production wells.

  • 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.