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  • Saudi Aramco targets two US natural gas producers

    Saudi Aramco, the world’s biggest oil exporter, has initiated talks with two liquefied natural gas (LNG) producers in the United States to bolster its overseas expansion strategy. The oil major is negotiating with Tellurian and NextDecade, Reuters reported, quoting informed sources. Aramco is considering buying a stake in Tellurian’s Driftwood LNG plant in Louisiana, which has a capacity of 27.6 million metric tonnes per annum, the report said

  • Saudi Aramco’s $12 Billion Share Sale Quickly Sells Out, but Who is Buying?

    Last week, Saudi Arabia’s energy giant Saudi Aramco (ARMCO) confirmed in a filing with the Saudi Exchange plans to sell shares in the state-owned oil company to help the kingdom fund plans to diversify the economy. Well, the sale took place on Sunday and was a resounding success with US$12 billion share sale sold out shortly after the deal opened. The deal offered ~1.545B Aramco shares, or ~0.64% of the company, within the price range of 26.70 riyals to 29 riyals. Buyers of the shares will be looking to cash in on an upcoming ~$124 billion annual payout that Bloomberg Intelligence estimates will give the shares a juicy dividend yield of 6.6%.

  • Saudi Aramco holding LNG talks with US firms Tellurian, NextDecade, sources say

    Oil giant Aramco (2222.SE), opens new tab is in talks with U.S. firms Tellurian (TELL.A), opens new tab and NextDecade (NEXT.O), opens new tab on two separate liquefied natural gas (LNG) projects as the Saudi firm seeks to boost its gas trading and production, three sources close to the talks told Reuters.
    U.S. gas production has boomed over the past decade with oil majors and Aramco's rivals such as Qatar Energy competing to build several projects to export gas to Europe and Asia.

  • Saudi Aramco offered $12 billion worth of stock. It sold out in hours

    Saudi Arabia will still own the vast majority of the company, both directly and through its Public Investment Fund. The country is using some of the proceeds to help diversify its economy in anticipation of so-called “peak oil,” when the commodity’s demand and/or supply begin to fall for climate and alternative energy-related reasons. One big priority for the new economy has been tourism, which Saudi Arabia has been working to increase through the creation of new attractions and travel options.

  • Sweden’s Seventh AP Fund excludes Saudi Aramco and six other companies

     Sweden's Seventh AP Fund (AP7) has blacklisted Saudi Aramco and six other companies from its portfolio all due to large-scale operations within oil extraction or coal production, the pension fund manager said on Monday.
    "The companies are blacklisted because they do not act in line with the Paris Agreement due to large-scale oil or coal operations without transition plans," AP7 said in a statement.

  • Saudi Aramco Courts Foreign Investors With Roadshows in US and London

    The $1.8 trillion oil giant’s offer was covered in just a few hours after the deal opened. It wasn’t immediately clear how much demand came from overseas, though the order book reflected a mix of local and foreign investors, Bloomberg News reported.

  • Saudi Aramco’s $12 Billion Stock Offer Sells Out in Hours

    The government had demand for all shares on offer in a few hours after books opened, according to terms of the deal seen by Bloomberg News. Books were covered within the price range of 26.70 riyals to 29 riyals.

    While it wasn’t immediately clear how much of the demand came from overseas, the order book reflected a mix of local and foreign investors, three people familiar with the matter said, declining to be identified as the information is private.

  • Saudi Arabia to launch Aramco’s secondary offering on June 2: Report

    Saudi Arabia is set to formally launch a secondary offering of Saudi Aramco on June 2, Bloomberg reported, citing unnamed sources with knowledge of the matter.   The government plans to run a book-building process to gather investor orders until June 6. The stock sale has already attracted informal interest from investors across the Middle East and Europe totaling over $10 billion.

  • Saudi Arabia Set to Launch $10 Billion Aramco Offer Sunday

    Saudi Arabia is preparing to formally launch a secondary offering of shares in oil giant Aramco as soon as Sunday, a deal that could raise more than $10 billion and rank among the largest of its kind in recent years.

    The government plans to run a book-building process to take orders until next Thursday, people familiar with the matter said, asking not to be identified as the information is private. The deal has attracted informal interest from investors across the Mideast and Europe totaling over $10 billion, they said.

  • Saudi Arabia to Raise $10 Billion to $20 Billion in Fresh Aramco Stock Sale

    The long-awaited offering, if it proceeds, would alleviate near-term pressure on the kingdom to raise funds. Saudi Arabia has a slew of mega projects including a new city and a global airline, all aimed at diversifying the economy beyond oil. The country supersized a $12 billion debt sale earlier this year and has transferred billions from its foreign-currency reserves to its sovereign-wealth fund.