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  • Lydia Ko out to inspire Saudi female golfers amid bid to retain Aramco title

    Defending champion Lydia Ko says she hopes her second appearance at the Aramco Saudi Ladies International presented by Public Investment Fund can inspire more girls in the kingdom to take up golf. Last week, organisers confirmed the Ladies European Tour event had been provided a new date, with the tournament to take place March 17-20. In its third iteration, the event at Royal Greens Golf & Country Club in King Abdullah Economic City had originally been played in November. It carries a $1 million purse.

  • Saudi shares lifted by soaring oil, Aramco hits record high

    Soaring crude prices lifted shares of state oil producer Saudi Aramco to a record high on Monday, boosting Saudi Arabia's benchmark stock index, while other major Gulf bourses were mixed as markets continued to be roiled by the Ukraine-Russia conflict. The euro extended its slide, hitting parity against the safe-haven Swiss franc, commodities of all stripes were on the rise and shares were dumped as Russian President Vladimir Putin vowed to press ahead with his invasion unless Kyiv surrendered.

  • Three bidders for Saudi Aramco’s Jafurah power and steam project

    The project will be developed under a public-private partnership (PPP) structure, with the successful developer signing offtake agreements for power and steam production. The energy company had set a target of appointing a preferred bidder by April 2022 and to award the contract in July 2022, however this may be delayed following the extension of the bid deadline.

  • Saudi Aramco’s market cap hits $2.3tn after another record share rise

    Shares in oil giant Aramco touched the highest level in its history of SR43.1 ($11.5) on Wednesday, propelled by a rally in the energy market. This brought the oil giant’s market value to as much as $2.3 trillion, positioning it as the second-largest valued company worldwide after Apple Inc.

  • Nahdi Medical: Biggest Saudi IPO Since Aramco Has Demand for All Stock on Offer

    The firm plans to sell 39 million shares, equivalent to a 30% stake, at 119 riyals ($31.72) to 131 riyals apiece. Institutional book-building will end on March 7, with a three-day subscription period for individual investors starting March 13.

  • Pharmacy firm Nahdi aims to raise up to $1.36 bln in Saudi Arabia’s biggest IPO since Aramco

    Nahdi Medical Co, Saudi Arabia's market leader in retail pharmacies, aims to raise up to 5.11 billion riyals ($1.36 billion) in the country's biggest initial public offering since Saudi Aramco's (2222.SE) listing in 2019. The company has set a price range of 119 riyals-131 riyals a share for the offering, according to a bourse filing. It will sell 39 million shares, or a 30% stake, and has appointed HSBC Saudi Arabia and SNB Capital as joint financial advisers, bookrunners and underwriters.

  • Saudi Sovereign Wealth Fund Considers Sale Of $90 Billion Aramco Stake

    Though discussions arrive just weeks after the Saudi government, which owns 94 percent of Aramco, transferred the stake over to the Fund and come amid reports that officials are mulling a new stock offering, after the oil giant’s successful market debut in 2019.

  • Saudi Aramco closes $15.5bn gas pipeline deal with global consortium led by BlackRock

    Saudi Aramco on Wednesday closed the $15.5 billion lease and leaseback deal for its gas pipeline that it agreed to in December with a group of companies led by BlackRock Real Assets and state-backed Hassana Investment Company. The global consortium has acquired a 49 per cent stake in Aramco Gas Pipelines Company, a unit of the world’s biggest oil exporter, with Aramco retaining the 51 per cent majority stake as well as full ownership and operational control of the gas pipeline network, Aramco said in a statement.

  • Saudi Aramco Sees Good Signs Oil Demand’s Rising as Shares Hit Record

    Aramco shares have risen 10% this year, roughly in line with Saudi Arabia’s benchmark Tadawul All Share Index. The Tadawul is the world’s sixth-best performing gauge this year in U.S. dollar terms and is hovering at its highest level since 2006.

  • Saudi Aramco in talks on more investments in China

    "China is an important part of Aramco's base," Nasser told reporters on the sidelines of a conference in Saudi Arabia. "And we are currently in discussions with a number of our partners in China for more investment," he said, declining to disclose the nature or size of potential investments. Nasser said last year that Aramco expects opportunities for further investment in downstream projects in China - the world's biggest importer of crude oil - to help the country meet its needs for heavy transport and chemicals, as well as lubricants and non-metallic materials.