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  • Ritz Carlton Riyadh May Re-Open in February as Prince Alwaleed bin Talal Reportedly Negotiating for Release
     

    The palatial Ritz-Carlton in Riyadh may re-open in mid-February 2018 after it served as a makeshift detainment center for Saudi elites accused of corruption charges. The hotel has re-opened its online reservation system, accepting new guests as soon as February 14th. Reservations attempted before that date re-direct to a notification that no rooms are available at […]

     
  • Saudi Arabia Lowers Barriers to Stock Market Investment Again as Reforms Progress
     

    Saudi Arabia announced that it will lower the required minimum assets under management for qualified foreign institutions starting this month, according to Bloomberg and a statement by the Saudi Capital Markets Authority (CMA). The announcement said the CMA will also allow foreigners to own up to 49 percent of listed securities on Saudi Arabia’s stock market. […]

     
  • Saudi Aramco, Partners Launch Offshore Focused Shipyard at Ras Al-Khair Industrial City
     

    Saudi Aramco and partners announced a joint venture to build a shipyard on the kingdom’s east coast, part of the Saudi Arabian government’s drive to diversify the economy beyond oil. Along with UAE-based Lamprell, the National Shipping Company of Saudi Arabia (Bahri), and South Korea-based Hyundai Heavy Industries, Saudi Aramco says the shipyard will be focused on […]

     
  • Energy Secretary Rick Perry Meets with Top Saudi Leaders; Photos from Visit Go Viral
     

    U.S. Secretary of Energy Rick Perry visited Saudi Arabia over the weekend as part of a tour of three Gulf states, his first trip to the region since becoming the top U.S. energy official. Secretary Perry’s tour of Saudi Arabia was packed with events and visits with key Saudi officials as well as energy institutions in the […]

     
  • Aramco Set to Invest $300 billion over 10 years in Oil and Gas Projects
     

    While speaking at the ADIPEC Energy Conference in Abu Dhabi, Aramco CEO, Amin Nasser, declared Saudi Aramco’s plans to invest $300 billion over 10 years in upstream oil and gas projects, Reuters reports. Preceding Nasser’s comments, Saudi Aramco announced on November 9 that it had signed eight agreements worth $4.5 billion with a number of […]

     
  • UK Government Agrees to $2b Loan Guarantee For Saudi Aramco
     

    The U.K. government agreed to a $2 billion loan guarantee for Saudi Aramco as competition to host the likely largest in history IPO heats up, according to Bloomberg. “The unusually large export credit guarantee, designed to finance the purchase of British goods, will be seen by many as an attempt to help woo the IPO to the […]

     
  • Trump Tweets U.S. Interest for Aramco IPO, but can the NYSE Compete?
     

    President Donald Trump used his Twitter account to encourage Saudi Arabia to list shares of Saudi Aramco on the New York Stock Exchange (NYSE) as markets around the world compete for the sought-after listing. “Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United […]

     
  • Saudi Arabia Allows Foreign Investors into Local IPOs, Hopes to List Aramco on Tadawul
     

    Foreign investors are now able to participate in initial public offerings (IPO) on companies listed on the Nomu (parallel) market in Saudi Arabia, according to reports based on comments from Saudi Arabia’s Capital Market Authority (CMA) chairman Mohammed El Kuwaiz. El Kuwaiz said Thursday that foreign investors can take part in company flotations when asked about the […]

     
  • Keeping Track of Saudi Arabia’s Public Investment Fund’s Expanding Footprint
     

    Saudi Arabia’s Public Investment Fund (PIF) has created a handful of new companies in several sectors in the Kingdom while investing in many others, injecting capital and a new competitor in the housing, energy, waste and recycling, tourism, transportation sectors and more. As the PIF’s role in the Saudi economy increases, critics say the mega-fund will crowd out private […]

     
  • Reports: China Offers to Buy 5% of Aramco IPO
     

    Chinese state-owned oil companies PetroChina and Sinopec have written to Saudi Aramco in recent weeks to express an interest in a direct deal to purchase up to 5% of Saudi Aramco, according to an exclusive report in Reuters, in a move that would shelve the Company’s plans to list on international markets in favor of a direct […]

     

MUST-READS

  • Saudi Aramco’s $21 billion Marjan field project: Everything you need to know

    With a total budget of $21 billion, the project aims to expand the field and increase its crude production capacity by 300,000 b/d as well as produce 360,000 b/d of ethane and natural gas liquids (NGL) by processing an additional 2.5 billion standard cubic feet per day (Bscfd) of gas produced from the field. Of the total 32 packages, 22 packages are under execution and seven projects are in pre-execution. A gas lift package is in the bid evaluation stage.

  • Saudi Aramco Bets On Continuous Growth Of Chinese Oil Demand

    With the two agreements, Saudi Arabia is betting on continuous growth in Chinese oil demand on the one hand. On the other hand, the Kingdom is looking to boost its market share in the world’s top oil importer, where its partner in the OPEC+ pact, Russia, has gained market share with cheap crude after the Russian invasion of Ukraine and the sanctions on Moscow that followed.

  • Japan startup APB signs next-gen battery partnership with Saudi Aramco

    Japanese battery startup APB has announced it has partnered with world’s largest oil firm, Saudi Aramco, to jointly develop materials for next-generation lithium-ion batteries and introduce them to global markets. Fukui-based APB says that safer and low-cost all-polymer batteries will play a crucial role in decarbonization, and that it is building a pilot production line at its Fukui plant to prepare for mass production in the fiscal year beginning April 2026.

  • Latest Saudi Aramco’s Oil Investments in China Strengthen Its Market Position

    The $3.6 billion investment to take a 10% stake in private processor Rongsheng Petrochemical Co. is a watershed moment for China’s independent refining sector, a loose grouping crew of companies that range from sophisticated refineries rivaling state-owned Sinopec and PetroChina, to smaller companies frequently tangled in tax and legal battles.

  • Saudi Aramco’s Deal Will Cement China’s Oil Demand and Push Its Peak Higher

    For Saudi Arabia, investing in a foreign refinery is often less about profits from processing crude and more about having secured demand. The Saudis and other oil-rich countries are fighting to lock in long-term customers. Nowhere else does the size of the contracts — and, equally important, their longevity — match what’s possible in China. Over time, India, where Aramco is also exploring refinery ventures, may approach China. But it’s not there yet. New Delhi consumes 5.5 million barrels a day of crude, compared to Beijing’s 16 million. Even if Chinese growth slows, it would take India decades to catch up

  • Saudi Aramco’s Deal Will Cement China’s Oil Demand and Push Its Peak Higher

    The Saudis have attempted to crack open China’s oil-refining industry for decades, trying to buy stakes as a beachhead to supply more oil into the People’s Republic. It’s a well-worn strategy: The Saudis did the same in other big petroleum markets, investing in refiners from Japan to the US to South Korea. In exchange for their equity, the Saudis locked in sales of their oil. It’s a money-for-crude investment that guarantees the Saudis steady demand for their oil.

  • Saudi Aramco boosts China investment in two refinery deals

    Aramco said on Monday it had agreed to acquire a 10% stake in privately controlled Rongsheng Petrochemical Co Ltd (002493.SZ) for about $3.6 billion. The deal includes the supply of 480,000 bpd of crude oil to Rongsheng-controlled Zhejiang Petrochemical Corp (ZPC) for 20 years, Aramco added. It follows a preliminary agreement Aramco reached with the Zhejiang provincial government in 2018 for a 9% stake in ZPC.

  • Saudi Aramco to ramp up Jizan fuel output, sources say

    Saudi Aramco's Jizan refinery is set to increase output of ultra-low sulphur diesel (ULSD) and reduce exports of vacuum gasoil (VGO) as it ramps up production in the second quarter, industry sources said. The refinery could produce up to 250,000 barrels per day (bpd) of ULSD, or 10-ppm gasoil, when it hits full capacity. This could boost Aramco's fuel exports to Europe, the sources said.

  • Saudi Aramco boosts China investment in two refinery deals

    Aramco said on Monday it had agreed to acquire a 10% stake in privately controlled Rongsheng Petrochemical Co Ltd (002493.SZ) for about $3.6 billion. The deal includes the supply of 480,000 bpd of crude oil to Rongsheng-controlled Zhejiang Petrochemical Corp (ZPC) for 20 years, Aramco added. It follows a preliminary agreement Aramco reached with the Zhejiang provincial government in 2018 for a 9% stake in ZPC.

  • Saudi Aramco boosts China investment in two refinery deals

    Saudi Aramco (2222.SE) raised its multi-billion dollar investment in China by finalising and upgrading a planned joint venture in northeast China and acquiring an expanded stake in a privately controlled petrochemical group. The two deals, announced separately on Sunday and Monday, would see Aramco supplying the two Chinese companies with a combined 690,000 barrels a day of crude oil, bolstering its rank as China's top provider of the commodity.