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Saudi Aramco reports 2019 results in ‘difficult macro environment’
- March 16,2020
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- SUSTG Team
Saudi Aramco announced its full-year 2019 financial results, delivering “strong profits and dividends despite a lower price environment and challenging margins in refining and chemicals,” the company said in a press release.
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Saudi Arabia Postpones Red Sea Festival, Takes Other Precautions Against COVID-19
- March 4,2020
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- SUSTG Team
Saudi Arabia is taking unprecedented steps to curb the spread of the Coronavius, or COVID-19, in the Kingdom, announcing that it would suspend the upcoming Red Sea Film Festival after announcing a suspension of the Umrah religious pilgrimage for its citizens and residents.
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Saudi Arabia Continues with Cautious Path on Coronavirus; King Salman, Xi Jinping Speak by Phone
- February 6,2020
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- SUSTG Team
Saudi Arabia continued to take precautionary measures to prevent the arrival and spread of Coronavirus in the Kingdom as King Salman and China’s Xi Jinping spoke by phone today to discuss the outbreak, according to reports.
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KSA sets air traffic records
- July 19,2024
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- SUSTG Team
Saudi Arabia has witnessed remarkable growth in its air traffic during the first half of 2024, according to the General Authority of Civil Aviation (GACA). The Kingdom has reported a significant growth in passenger traffic, flights, air cargo, and connectivity.
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Already a Riyadh Centerpiece, KAFD CEO Gautam Sashittal Discusses Future Plans
- March 14,2024
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- SUSTG Team
Gautam Sashittal, CEO of King Abdullah Financial District Development and Management Company (KAFD DMC), sits with Imogene Lillywhite of Zawya for an extensive interview outlining what is next for the exciting city hub.
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Riyadh Air Makes Waves at Aviation Festival of Asia 2024
- February 28,2024
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- SUSTG Team
New Saudi airline Riyadh Air is touting its new offering at an industry event in Asia, with the CEO and COO giving public appearances and with it a glimpse into the plans and aspirations of the startup airline.
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Al-Falih Says Vision 2030’s Impact on Saudi Economy is Visible in 66% Increase in GDP
- December 12,2023
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- SUSTG Team
Saudi Arabia’s Minister of Investment, HE Khalid Al-Falih, said that the Kingdom’s gross domestic product (GDP) has increased by 66 percent since the launch of Saudi Arabia’s Vision 2030.
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Saudi Arabia Enters Recession Now, Report from Capital Economics Says, but Non-Oil Economy Continues to Shine
- August 2,2023
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- SUSTG Team
Saudi Arabia has entered a recession, a report from Capital Economics said, as oil production cuts designed to prop up prices hurt the Kingdom’s bottom line – but the Kingdom’s non-oil economy continued to grow at a robust pace.
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Saudi Arabia’s Receipts from Oil Sales Abroad Down in May, Lowest in Over a Year – Report
- July 25,2023
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- SUSTG Team
Saudi Arabia’s leadership in OPEC+ with voluntary cuts to production has proven to be costly, sending its receipts from oil sales abroad down by a third, to its lowest in over a year, according to a report in Bloomberg, which cited the Kingdom’s General Authority for Statistics (GASTAT).
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Saudi Arabia Defends Oil Cuts with Russia, Vows to do ‘Whatever Necessary’ to Support Oil Markets
- July 6,2023
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- SUSTG Team
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman defended Riyadh and Moscow’s recent oil cut decisions on Wednesday, which caused only a small, short-term increase in the price of Brent crude as the market shrugged at the move.
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MUST-READS
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Saudi Aramco sees 100% surge in influencer conversations post announcement of 44% slump in 2020 net profit, reveals GlobalData
Saudi Arabian Oil Company (Saudi Aramco) witnessed a staggering week-on-week 100% jump in influencer conversations on Twitter during the fourth week of March 2021, following the announcement of a steep 44% decline in 2020 net profit, according to GlobalData, a leading data and analytics company.
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Aramco may slash dividend payment to boost Saudi economic growth plan
Saudi Arabia's de facto leader Crown Prince Mohammed bin Salman said on March 30 that 24 Saudi listed companies, including Aramco and Saudi Basic Industries Corp, or SABIC, and National Shipping Co. will reduce their dividend payouts to the government and redirect the money into the local economy. The plan targets the contribution of $1.33 trillion of domestic capital from the companies over the next ten years.
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Saudi Aramco role in private investment drive guided by business not state, says CEO
The government has not spelled out how the programme will work in detail, but Nasser said private companies would seek incentives from the government - whether infrastructure, fiscal or regulatory support - and Aramco would determine whether to back a project as a partner. “This is a voluntary programme. It’s on the private sector to bring these projects, to ask for incentives,” he said.
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Saudi Aramco Shares Rise as Crown Prince MBS Prioritizes Spending Over Dividends
The dividend cut won’t impact minority shareholders, the crown prince said. The government had promised they would get their share of the total payout for five years after Aramco sold a small stake in its 2019 initial public offering.
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Saudi Arabia announces $1.3 trillion private sector investment push led by Aramco, SABIC
The move aims to mobilise the Gulf Arab state’s private sector to help wean the economy off its reliance on oil exports, which still account for more than half the state’s income, and develop new sectors to help create jobs for millions of Saudis.
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Saudi Aramco sends request to banks for pipeline deal financing, sources say
Saudi Aramco has sent a request for proposals to banks for financing it wants to offer to investors looking to lease its pipelines, three sources said, a sign the oil giant is progressing with plans to extract value from its assets.
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Saudi Aramco announces management appointments
Saudi Aramco announced this week new appointments for top management positions effective April 1. The company appointed Khalid Al-Abdulqader as the vice president of unconventional resources.
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Saudi Aramco remains in discussion to pick stake in Reliance unit
"Saudi Aramco's CY20 conference call indicated that it is still in discussion with Reliance to evaluate existing opportunities as potential partners, regarding the non-binding MoU signed with Reliance for its O2C business," Morgan Stanley said in a note.
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Saudi Aramco’s debt-to-equity ratio more than doubles in 2020
Saudi oil giant Aramco’s debt-to-equity ratio more than doubled to 55% in 2020 from a year before, it said in a report, after the group kept a pledge to deliver a $75 billion dividend to support state coffers despite a slide in profits.
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Saudi Aramco profit drops after Covid-battered year, upholds dividend
Oil giant Saudi Aramco reported a 44% slump in full-year 2020 results, but maintained its $75 billion dollar dividend payout, with CEO Amin Nasser describing the last twelve months as one of the most “challenging years” in recent history.
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