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  • Saudi Aramco and Advanced Electronics team up to boost kingdom’s digital ecosystem

    Saudi Aramco, through its entrepreneurship arm Wa'ed, has become increasingly involved in supporting start-ups through investments, participating in funding rounds for tele-health platform Cura and FinTech firm Lamaa in the past few months.

  • Aramco needs to compete to attract young Saudi talent in future

    The study astonishingly revealed that nine out of 10 young Saudis, or 90 percent, are interested in pursuing a career in tourism, compared to just over three quarters, or 77 percent, who are interested in careers in oil and petrochemicals.

  • Saudi Aramco launches tender to upgrade world’s largest offshore oilfield Safaniyah

    The state-owned company issued the Safaniyah upgrade tender as a part of its long term agreement with offshore contractors, Upstream reported citing two people with direct knowledge of the development Safaniyah produces above 1 million barrels per day and has 37 billion barrels of heavy crude in place and is located about 200 kilometers north of Dhahran.

  • Seeq signs industrial digitalization agreement with Saudi Aramco

    The agreement will provide Saudi Aramco engineers and subject matter experts with Seeq’s self-service analytics, predictive modeling data analytics, and visualization tools. “Seeq is empowering our engineers and subject matter experts with easy-to-use analytics tools to truly democratize data science. We see this as a key element for scaling operational analytics across the organization,” says Walid A. Al-Naeem, Manager of Process & Control Systems Department, Saudi Aramco.

  • Saudi Aramco’s entrepreneurship arm Wa’ed provides $2.04m grant to four start-ups

    Created as a wholly-owned venture of Aramco in 2011, Wa’ed has disbursed more than 400m riyals in venture capital investment, loans and incubation services to more than 100 kingdom-based start-ups. Start-ups in Saudi Arabia attracted a record $168m worth of venture capital funding through 54 transactions in the first half of 2021, according to data platform Magnitt. This is about 94 per cent of the money extended to the kingdom’s start-ups in 2020.

  • McDermott secures three offshore contracts from Saudi Aramco

    In a statement, McDermott said that it has received three new awards for engineering, procurement, construction, and installation (EPCI) projects. The company will complete the EPCI for four drilling jackets and seven oil production deck modules (PDMs) in the Zuluf, Ribyan, Abu Sa’fah and Safaniya fields. These fields are all situated offshore in the Arabian Gulf.

  • Aramco pipeline is net win for BlackRock and Saudi

    The transaction looks identical to last year’s sale by Abu Dhabi National Oil Company of a minority stake in a lease over its gas transmission network to Global Infrastructure Partners and chums. The ADNOC deal implied a $20.7 billion value for 982 kilometres of pipelines. Aramco’s larger 5,000-kilometre network is valued at $31.6 billion. In both cases the state owner retains a majority stake and pays an undisclosed annual tariff to the gas network. Meanwhile, minority investors borrow 80% of the amount they’re putting up, juicing annualised returns on their equity comfortably beyond 10%.

  • Aramco announces L&T collaboration on key Saudi facility

    Aramco's Senior Vice President (Technical Services) Ahmed Sa’adi said: "This manufacturing facility will provide a large number of skilled job opportunities for Saudi youth, localize the “know how” of heavy wall vessels in the kingdom, and deploy the latest manufacturing technologies to serve the kingdom and Mena region."

  • Saudi Aramco to invest in RIL’s solar, specialty chemicals biz

    Saudi Aramco, the world’s largest oil-producing company, may consider investing in the solar and speciality chemicals businesses of Reliance Industries (RIL), say sources in investment banking. “It will be a strategic investment that will support Aramco’s aggressive push for controlling carbon emission,” says a Mumbai-based banker.

  • Yemen’s Houthis target Aramco, other Saudi sites in missile, drone attacks

    Yemen's Houthi movement said on Tuesday it fired several ballistic missiles and 25 armed drones into Saudi Arabia, targeting Aramco oil facilities in Jeddah and the defence ministry in Riyadh. The Saudi-led coalition fighting the Houthis in Yemen said late on Monday that one missile had been intercepted over the Saudi capital, where residents reported loud blasts