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  • Chinese Firms Deliver Massive Offshore Oil, Gas Rig to Saudi Aramco

    A ultra-large offshore oil and gas collection and transportation platform, which is the biggest of its kind built by Chinese companies for a foreign client, was successfully handed over to Saudi Arabian oil major Saudi Aramco today, marking a new chapter for the country’s giant offshore oil and gas platform construction industry.

  • ROSHN Group, Saudi Aramco to Cooperate in the Construction of 47,000-capacity Stadium in Alkhobar

    A 47,000-capacity arena, to be called the Aramco Stadium, is to be built in Alkhobar in the Eastern Province following a cooperation agreement between ROSHN Group and Saudi Aramco. The stadium is expected to be fully operational by 2026, when it will be ready to host local and international events, including the Asian Cup which Saudi Arabia is scheduled to host in January 2027, the Saudi Press Agency reported on Wednesday.

  • Saudi Aramco explores global LNG opportunities: Nasser

    Saudi Aramco's President and CEO Amin Nasser said the company is working on a number of international investments and exploring global opportunities in the field of LNG. He added that the company has ambitious plans to develop its portfolio and expand its capabilities in this field. Nasser said in an investor call that the oil giant seeks to complete a strategic partnership in the field of LNG with MidOcean Energy during the third quarter of 2024.

  • Saudi Aramco Seeks More China Deals in Oil-to-Chemicals Push

    The world’s largest crude exporting company is targeting additional facilities that can turn oil into chemicals, Chief Executive Officer Amin Nasser said. Aramco sees demand for goods such as plastics outlasting the growth in consumption for gasoline and diesel amid the energy transition. “We are looking currently at a number of investments in China that will be announced in due course this year and next year,” Nasser said on an earning call Tuesday. He also mentioned South Korea and India as potential investment destinations.

  • Saudi Aramco Sees Oil Demand Rising by 1.6 Million Bpd in Second Half of 2024

    Global oil demand is expected to rise by between 1.6 million and 2 million barrels per day (bpd) in the second half of the year, Saudi Aramco’s chief executive Amin Nasser said on Tuesday, noting that the past week’s selloff in oil doesn’t reflect fundamentals. Aramco sees total global oil demand at 104.7 million bpd for the full-year 2024, the top executive of the world’s largest oil company said on the second-quarter earnings call.

  • Saudi Aramco to Return $31 Billion to Shareholders, Government Despite Profit Dip

    Saudi Arabia's national oil company on Tuesday posted a quarterly net profit of $29.07 billion, down from the $30.83 billion it reported for the same period last year, after it sold less crude oil and its refining margins weakened, offsetting robust oil prices in the quarter.

  • Saudi Aramco stock climbs on Q2 results, dividends

    Shares of Saudi Aramco (2223.SR) are trading higher after the company met second quarter net income expectations and will pay a quarterly dividend totaling $31.1 billion. Yahoo Finance reporter Ines Ferré breaks down the details, analyzing the company's financials and providing insights into the broader oil industry landscape.

  • Saudi Aramco ‘confident’ in its oil demand growth forecasts

    Saudi Aramco maintained its medium- and long-term demand forecasts on Aug. 6, with 52% of crude oil production output used in refining and other downstream operations in the second quarter of 2024.

  • Aramco to become majority shareholder in Petro Rabigh, an integrated refining and petrochemical complex in Saudi Arabia

    Aramco, one of the world’s leading integrated energy and chemicals companies, has signed a definitive agreement to acquire an additional stake of approximately 22.5% in Rabigh Refining and Petrochemical Co. (“Petro Rabigh”), the refining and petrochemical complex located on the Kingdom of Saudi Arabia’s west coast, from Sumitomo Chemical for $702 million.

  • Saudi Aramco’s Production Policy Is Weighing on Its Stock Price

    The report noted, however, that Aramco is a very different company from either Exxon or Shell because it is still majority-owned by the Saudi state, which can direct corporate strategy and is indeed doing just that. It’s worth noting that from a certain perspective, Aramco’s production cuts helped keep prices above a certain level, helping Exxon, Shell, and the rest of Big Oil keep posting higher results.