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  • Saudi Aramco Refiner Hires Banks for $1 Billion Share Sale

    Saudi Aramco Base Oil Co., a refining unit of the state-owned oil producer, named banks including Citigroup and HSBC Holdings Plc for its initial public offering on the Saudi stock exchange, which could raise about $1 billion. The company, also known as Luberef, is planning to sell 50 million shares, or a nearly 30% stake, according to a statement. The price at which all subscribers in the offering will purchase the shares will be determined after the book-building period.

  • Aramco unit Luberef set for key IPO; wins nod for Saudi listing

    Saudi oil giant Aramco has announced that its base oil subsidiary, Luberef, has won approval from the kingdom’s stock market regulator, Capital Market Authority (CMA), to launch its an initial public offering (IPO) and list its shares on the main market of the Saudi Stock Exchange.

  • Saudi Aramco signs multiple deals worth $11 billion in investment push

    With 51 domestic and international manufacturers, Saudi Aramco, one of the largest energy producers in the world, has signed 59 corporate procurement agreements as part of its ‘In Kingdom Total Value Add’ program (iktva). These $11 billion work agreements—signed with companies like Baker Hughes, Cameron Al Rushaid, Halliburton, SLB, and TechnipFMC—can create 5,000 new jobs in the kingdom.

  • Saudi Aramco signs multiple deals worth $11 billion in investment push

    With 51 domestic and international manufacturers, Saudi Aramco, one of the largest energy producers in the world, has signed 59 corporate procurement agreements as part of its ‘In Kingdom Total Value Add’ program (iktva). These $11 billion work agreements—signed with companies like Baker Hughes, Cameron Al Rushaid, Halliburton, SLB, and TechnipFMC—can create 5,000 new jobs in the kingdom.

  • Saudi Aramco to invest in $7 bln petchem project in South Korea

    The project, named Shaheen, is the Saudi company's biggest investment in South Korea and will mark the first commercial use of Aramco and Lummus technology to produce chemicals from crude, Aramco said in a statement.

  • Saudi Aramco Eyes Hydrogen Deals in Japan

    Al-Falih said that the Saudi-Japan Vision 2030 meeting came just before Saudi Arabia’s Crown Prince Mohammed Bin Salman’s state visit to Japan from Nov. 19-21. The minister said that 89 of the initiatives from the vision are “being materialized, with some already completed.” He added that it was important to not only to ensure the quantity of these initiatives, but to also emphasize their quality.

  • Saudi Aramco to ship full oil contract volumes to Asia in December

    Saudi Aramco has told at least four refinery customers in North Asia they will receive full contract volumes of crude oil in December, several sources with knowledge of the matter said on Thursday. The producer is maintaining a steady supply to Asia despite the decision by the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known as OPEC+, to lower the group's output target by 2 million barrels per day (bpd) starting this month.

  • Saudi Aramco Eyes Hydrogen Deals in Japan

    Al-Falih said that the Saudi-Japan Vision 2030 meeting came just before Saudi Arabia’s Crown Prince Mohammed Bin Salman’s state visit to Japan from Nov. 19-21. The minister said that 89 of the initiatives from the vision are “being materialized, with some already completed.” He added that it was important to not only to ensure the quantity of these initiatives, but to also emphasize their quality.

  • Saudi Aramco signs $735 million crude supply deal with China

    China’s privately-owned refinery Zhejiang Petroleum & Chemical Co (ZPC) signed a purchase deal with Saudi Arabian state oil producer Saudi Aramco for supply of 7.88 million barrels of crude oil, Chinese government-backed newspaper Zhoushan Daily reported. The deal, worth $735 million, was sealed during the weekend at the 5th China International Import Expo in Shanghai.

  • China’s ZPC signs oil purchase deal with Saudi Aramco, paper reports

    Privately-owned Chinese refiner Zhejiang Petroleum & Chemical Co (ZPC) has signed a purchase deal with Saudi Arabian state oil producer Saudi Aramco (2222.SE) for 1.08 million tonnes (7.88 million barrels) of crude oil, government-backed Chinese newspaper Zhoushan Daily reported on Monday. The 5.3 billion yuan ($735 million) deal was sealed at the 5th China International Import Expo in Shanghai over the weekend. The report did not disclose the timeframe of the purchase deal. ZPC confirmed the deal without providing any details.