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  • What Golf Saudi’s Aramco Team Series event in New York means for LPGA

    There are six events on the Ladies European Tour schedule that are sponsored by Golf Saudi and the Public Investment Fund (PIF). The Aramco Team Series and it’s $1 million purses have no doubt added a significant amount of money to the LET schedule, where it’s tough to make a living. Only 29 players have made over 100,000 euros so far this season, and that’s without travel costs and other team/caddie expenses.

  • What Golf Saudi’s Aramco Team Series event in New York means for LPGA

    Lexi Thompson won for the first time in three years at the Aramco Team Series event at Trump Golf Links Ferry Point. The victory certainly meant plenty to Thompson, who last won at the 2019 ShopRite LPGA Classic and has suffered a number of heartbreaking losses.

  • Saudi Aramco’s JV to manufacture drilling rigs in Kingdom for first time

    Oil giant Saudi Aramco has launched Arabian Rig Manufacturing, a joint venture firm with American entity NOV, to manufacture drilling rigs and related equipment for the first time in Saudi Arabia. Located at Ras Al-Khair, the new facility is expected to reduce dependence on imported products in one of the largest oil-producing nations, reported Argaam.

  • Saudi Aramco to maintain full oil supplies to Asia in Nov despite OPEC+ cuts

    Saudi Aramco has told at least seven customers in Asia they will receive full contract volumes of crude oil in November ahead of the peak winter season, several sources with knowledge of the matter said on Monday. The producer is keeping supplies to Asia steady despite likely production cuts by tapping on inventories, the sources said. Saudi Aramco could not be immediately reached for comment outside office hours.

  • Saudi Aramco: The Oil Market Is Ignoring Supply Fundamentals

    “[The market] is focusing on what will happen to demand if recession happens in different parts of the world, they are not focusing on supply fundamentals,” the top executive at the world’s largest oil firm and single largest crude oil exporter, said at the Energy Intelligence Forum in London today.

  • ‘Global AI Corridor’ deal with Saudi Aramco aims to link Riyadh to California

    “The corridor is designed to develop and commercialize complex AI solutions, train Saudi talent, support Saudi start-ups, and together with a global partner build a local AI ecosystem,” Saudi Aramco CEO Amin Nasser said at the Global AI Summit in Riyadh. The deal, valued at $250 million, aims to link Riyadh to the US state of California, Beyond Limits CEO AJ Abdallat told al-Arabiya TV on Tuesday. It will include building a center with Aramco that will focus on energy and combating climate change and will span five years, Abdallat added.

  • ‘Global AI Corridor’ deal with Saudi Aramco aims to link Riyadh to California

    “The corridor is designed to develop and commercialize complex AI solutions, train Saudi talent, support Saudi start-ups, and together with a global partner build a local AI ecosystem,” Saudi Aramco CEO Amin Nasser said at the Global AI Summit in Riyadh. The deal, valued at $250 million, aims to link Riyadh to the US state of California, Beyond Limits CEO AJ Abdallat told al-Arabiya TV on Tuesday. It will include building a center with Aramco that will focus on energy and combating climate change and will span five years, Abdallat added.

  • Cyber attacks are among top risks faced by Saudi Aramco, CEO says

    Cyber attacks are one of the top risks faced by Saudi Arabia's state oil giant Aramco, on a par with natural disasters and physical attacks, the company's chief executive said on Tuesday at an artificial intelligence summit in Riyadh. "While these attacks are growing in scale and severity, AI is helping us to fend off some of these threats," Amin Nasser said.

  • Saudi Aramco partners with Formula Motorsport to introduce sustainable fuels

    Saudi Aramco, the world’s largest oil-exporting company, signed a preliminary agreement with Formula Motorsport to introduce the use of sustainable fuels in the Formula 2 and Formula 3 motor racing championships from 2023 as decarbonisation efforts to limit global warming gather pace globally. The agreement, which is subject to FIA World Motor Sport Council approval, “will form part of the wider sustainability strategy announced by the FIA and Formula 1, which will see the sport become net zero carbon by 2030,” the companies said in a statement on Friday.

  • Aramco VC Fund Turns to Global Investments in Saudi Startup Push

    “Many global start ups see the next expansion avenue in the region as funding is available in plenty and they can have an edge by potentially relocating into Saudi Arabia and the GCC,” he said. “We will attract firms from those sectors and position the kingdom as the center of gravity for these global ventures.” To tap these opportunities, Wa’ed has increased the size of its typical investment to $20 million from $5 million, Alidi said.