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  • Fifa urged by women’s soccer players to scrap sponsorship with Saudi oil company Aramco

    More than 100 professional women’s soccer players have signed an open letter to Fifa urging the global governing body to end its sponsorship with Saudi oil giant Aramco. Fifa confirmed a deal with Aramco, which is majority-owned by the Saudi government, in April. The company will sponsor both the 2026 men’s World Cup and 2027 Women’s World Cup in an agreement reportedly worth up to US$100 million a year.

  • Saudi Aramco CEO ‘fairly bullish’ on China oil demand

    Saudi Aramco (2222.SE), opens new tab is "fairly bullish" on China's oil demand especially in light of the government's stimulus package which aims to boost growth, the head of the state-owned oil giant said on Monday. "We see more demand for jet fuel and naphtha especially for liquid-to-chemical projects," Aramco CEO Amin Nasser said on the sidelines of the Singapore International Energy Week conference. "A lot of it is happening in China mainly because of the growth in chemical needs. Especially for the transition, for the electric vehicles, for the solar panels, they need more chemicals. So that's huge growth there," Nasser said.

  • Aramco Cancels Saudi Chemical Project as It Focuses on Asia

    Saudi Aramco has canceled plans to build a refinery and chemicals project in the kingdom and is reviewing three others as it evaluates spending plans with a focus on expanding in Asia. The cancellation is a sign Aramco is recalibrating its spending on chemicals to Asia, where it’s pursuing a series of deals in China that would also guarantee long-term demand for Saudi crude. Aramco sees the use of goods such as plastics outlasting the growth in consumption for gasoline and diesel amid the energy transition, with much of the expansion in chemicals likely coming from Asia.

  • Saudi Aramco Sponsorship of HackHarvard Sparks Criticism

    “It’s very ironic that Aramco is sponsoring and one of the tracks is sustainability. Come on HackHarvard. Do a better job,” said Sami Nourji, a junior at Brown University. Aramco recruiter Kira Worysz, who spoke at the opening ceremony, defended Aramco’s involvement in the event in an interview. “We’re in the business of getting oil out of the ground and bringing it to the world, but at its root, we’re a technology company,” Worysz said.

  • ADES says Saudi Aramco renews two onshore rigs for 10 years

    The $252 million renewals are for rigs ADES 13 and ADES 14, and the contract extension will "commence immediately upon expiry of the rigs' current firm tenor," the company said. The two rigs have been operating in Saudi Arabia since 2019, the company said in a statement. ADES has recently struck deals in Southeast Asia and Kuwait. In Southeast Asia, ADES acquired two jackup rigs worth $190 million from Vantage Drilling International, marking the Saudi energy service company's entrance into the Malaysia-Thailand joint development area, the company said Sept. 9.

  • Aramco Digital bets on partnerships to build Saudi Arabia’s AI ecosystem

    Aramco Digital has also signed several Memorandums of Understanding (MoU) at the Global AI Summit held in Riyadh recently. It inked a deal with Cerebras Systems and FuriosaAI to explore collaboration in the supercomputing and AI domains and also partnered with South Korea's Rebellions to deploy Rebellions Neural Processing Unit chips in Aramco's data centers. In addition, Aramco Digital has signed an MoU with SambaNova Systems to accelerate AI capabilities, innovation and adoption across the country. It also announced the deployment of an AI supercomputer powered by NVIDIA GPUs, one of the region's first systems of its kind.

  • Saudi Aramco raises $3 billion from second debt sale since July

    State oil giant Saudi Aramco (2222.SE), opens new tab has raised $3 billion from two-part Islamic bonds, or sukuk, tapping the debt markets for the second time this year as it expects to pay huge dividends, mainly to the government. The state oil giant on Wednesday sold $1.5 billion in five-year sukuk at a spread of 85 basis points (bps) over U.S. Treasuries and $1.5 billion in 10-year Islamic bonds at 100 bps above the same benchmark, two sources with direct knowledge of the matter said, tighter than earlier guidance on strong demand.

  • Saudi Aramco begins issuing dollar-denominated sukuk

    Saudi Aramco has started on Tuesday issuing US dollar-denominated international sukuk or Islamic bonds. The sukuk offering, which is part of the Trust Certificate Issuance Program of the SA Global Sukuk Limited, will run through until October 2. The value of the offering will be determined according to market conditions and investor demand at the time of the offering, Aramco said in a filing on the Saudi Stock Exchange (Tadawul). The minimum subscription will be $200,000 with integrated multiples of $1,000 in excess of that amount, subject to market conditions.

  • Saudi Aramco to raise up to $3 bln in two-tranche dollar Islamic bonds, sources say

    Saudi Aramco (2223.SE), opens new tab is planning to raise up to $3 billion in five and 10-year U.S. dollar-denominated sukuk, or Islamic bonds, according to two sources with direct knowledge of the matter and a term sheet reviewed by Reuters on Tuesday. The sources could not be named as the information on the deal size had not yet been made public. Aramco, mostly owned by the Saudi Arabian government, did not immediately respond to a request for comment.

  • Saudi Aramco wants to be a major LNG gas player, gas chief says

    The world's largest oil producer, Saudi Aramco (2222.SE), opens new tab, wants to become a major liquefied natural gas player, the head of its natural gas business said on Tuesday. Saudi Aramco has taken the first steps to reach a goal of becoming a major LNG player, said Abdulkarim Al-Ghamdi, an Aramco executive vice president, at the GasTech energy conference in Houston. The Saudi oil giant last year acquired from EIG Global Energy Partners LLC a minority stake in MidOcean Energy for $500 million, its first foray into LNG abroad. This month, it increased its stake to 49%.