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  • Saudi Aramco signs 50 agreements to redirect supply chain spending into local economy

    “Our investment in a diversified network of suppliers has helped us maintain a track record of reliability and IKTVA continues to prove its value by contributing to an increasingly vibrant, dynamic and business-friendly environment in Saudi Arabia.” The programme has helped to establish a competitive industrial base, resulting in exports to more than 40 countries, while local content requirements have contributed more than $100 billion to the national economy, according to the company.

  • Saudi Aramco Says Oil Demand’s Nearing Pre-Pandemic Levels

    Saudi Aramco said demand for oil is nearing pre-Covid levels and reiterated that producers globally are investing too little in supply. “We are getting very close to pre-pandemic levels,” Chief Executive Officer Amin Nasser told reporters on Monday in Dhahran, where the world’s biggest oil company is based. “We continue to see healthy demand in the future.” Consumption of crude crashed from around 100 million barrels a day in early 2020 as the coronavirus pandemic spread, shutting down factories and triggering mass lockdowns. The International Energy Agency, which advises rich countries, said it was back to almost 98 million barrels daily as of September.

  • Saudi Aramco’s Wa’ed launches FinTech accelerator programme

    Wa’ed, Saudi Aramco's entrepreneurship arm, is teaming up with Fintech Saudi and venture capital firm Flat6Labs to launch a 12-week accelerator programme to boost the growth of FinTech companies in the kingdom. The hybrid programme will take place in-person in Riyadh and online from next month. It will host 12 start-ups for a series of workshops and training seminars.

  • Saudi Aramco inks deals with Korean companies

    Saudi Arabia and South Korea have good relations. Saudi Arabia is South Korea’s largest trading partner in the Middle East. The Gulf kingdom provided South Korea with more than 30% of its crude oil imports in 2021, according to The Korea Herald.

  • Saudi Aramco Buys Stake In Refinery In Russia’s Backyard

    Saudi oil giant Aramco has signed a deal with Polish refiner and fuel retailer PKN Orlen to buy 30 percent in a 210,000-bpd refinery in Gdansk, Poland, 100 percent in an associated wholesale business, and 50 percent in a jet fuel marketing joint venture with BP, the world’s largest oil company and top oil exporter said on Wednesday.

  • Saudi Aramco Is Fighting To Regain A Key European Market

    In a move to regain some of its former glory in the North West European crude oil and products market, Saudi Aramco Trading Company (ATC) has clinched a major 110,000 bpd supply deal with international independent private equity group Klesch Group.

  • Saudi Aramco allocates full February term volumes to most Asian buyers: sources

    Saudi Aramco has allocated full February term crude volumes to most Asia-Pacific refiners following the issuance of its official selling prices last week, refinery sources in China, Japan, Malaysia, Taiwan and India told S&P Global Platts Jan. 11.

  • Saudi Aramco to produce hydrogen vehicles locally

    The Dhahran-based state-of-the-art LAB7 facility would have 24/7 dedicated workshops that can accommodate 19 projects and up to 300 innovators at any one time. LAB7 is empowering new generation of innovators -the digital and technical entrepreneurs of the 21st century.

  • Abu Dhabi’s NPCC awarded $2.23bn contract by Saudi Aramco

    The company owns a fleet of 23 offshore vessels with modern equipment to support its shallow and deep water operations in the oil and gas sector. The awarding of the new contract comes on top of other contracts won by the company last year, including a $744 million contract by Abu Dhabi National Oil Company to develop the offshore Belbazem block to boost its light crude production capacity to 45,000 barrels per day, with the first barrel of oil expected in 2023.

  • Aramco, AEC announce partnership focused on accelerating Saudi Arabia’s digital ecosystem

    AEC, a Saudi Arabian Military Industries (SAMI) company, and Aramco said that the MoU would support efforts to enable the internet of things, computing and communication, drones, robotics, and semiconductors in Saudi Arabia.