Saudi Aramco - updates

Rappler's latest stories on Saudi Aramco

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Saudi Aramco completes purchase of 70% stake in SABIC

Jun 17, 2020 - 7:20 PM

Oil giant Saudi Aramco acquires a 70% stake in chemical giant SABIC for $69.1 billion

A picture taken on September 15, 2019 shows an Aramco oil facility near al-Khurj area, just south of the Saudi capital Riyadh. - Saudi Arabia raced today to restart operations at oil plants hit by drone attacks which slashed its production by half, as Iran dismissed US claims it was behind the assault. The Tehran-backed Huthi rebels in neighbouring Yemen, where a Saudi-led coalition is bogged down in a five-year war, have claimed thi weekend's strikes on two plants owned by state giant Aramco in eastern Saudi Arabia. (Photo by FAYEZ NURELDINE / AFP)

Saudi Aramco tips difficult 2020 as crisis hits quarterly profits

May 12, 2020 - 7:05 PM

(UPDATED) Saudi Aramco – the world's largest listed firm – posts a net profit of $16.66 billion in the 1st quarter of 2020, lower than $22.2 billion a year ago

SAUDI ARAMCO. Investors stand in front of the logo of Saudi state oil giant Aramco during the 10th Global Competitiveness Forum in Riyadh on January 25, 2016. File photo by Fayez Nureldine/AFP

Saudi Aramco to supply 8.5 million barrels per day starting May

Apr 18, 2020 - 12:15 AM

Oil giant Aramco does not clarify whether or how this would be split between exports and domestic supply

SAUDI ARAMCO. Investors stand in front of the logo of Saudi state oil giant Aramco during the 10th Global Competitiveness Forum in Riyadh on January 25, 2016. File photo by Fayez Nureldine/AFP

Saudi oil supply hits record as price war rages

Apr 02, 2020 - 7:00 AM

On a single day, Saudi Aramco says it is 'breaking records to supply 15 tankers loading more than 18.8 million barrels of oil'

A handout picture provided by the Saudi Arabian Oil Company (Saudi Aramco) on April 1, 2020 shows Aramco tankers being loaded with oil at an undisclosed sea location. - Saudi Aramco supplies a record 18.8 million barrels of crude on a single day, escalating an price war with Russia while defying pressure from the United States. (Photo by - / Saudi Aramco / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / SAUDI OIL COMPANY ARAMCO" - NO MARKETING - NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS

Oil giant Aramco to tap inventories to raise output

Mar 16, 2020 - 11:35 PM

As a price war with Russia escalates, Saudi Aramco says it can keep up its new level of output for a sustained period

SET FOR IPO. A general view of Saudi Aramco's Abqaiq oil processing plant on September 20, 2019. File photo by Fayez Nureldine/AFP

Saudi Aramco 2019 profit slides 20.6% on lower crude prices

Mar 15, 2020 - 11:10 PM

Saudi Aramco, the world's largest publicly listed company, says its net income was $88.2 billion in 2019, lower than the $111.1 billion in 2018

SAUDI ARAMCO. In this file photo taken on January 25, 2016, Saudi and Foreign investors stand in front of the logo of Saudi state oil giant Aramco during the 10th Global Competitiveness Forum in the capital Riyadh. Photo by Fayez Nureldine/AFP

United Nations says it cannot confirm Iran behind Saudi oil attack

Dec 11, 2019 - 4:21 PM

The investigation is unable to 'independently corroborate that the cruise missiles and unmanned aerial vehicles used in these attacks are of Iranian origin,' the report says

ATTACKED. Smoke billows from an Aramco oil facility in Abqaiq about 60 kilometers southwest of Dhahran in Saudi Arabia's eastern province on September 14, 2019. Photo by AFP

Aramco declares $1.71-trillion valuation in blockbuster IPO

Nov 17, 2019 - 3:43 PM

(3rd UPDATE) Aramco will sell 1.5% of the company in an initial public offering worth at least $24 billion

SET FOR IPO. A general view of Saudi Aramco's Abqaiq oil processing plant on September 20, 2019. File photo by Fayez Nureldine/AFP

Saudi Aramco to launch giant stock offering November 17

Nov 10, 2019 - 7:48 PM

The final share price would be determined on December 5, a day after subscriptions close, in what is expected to be the world's biggest initial public offering

SAUDI ARAMCO. In this file photo taken on January 25, 2016, Saudi and Foreign investors stand in front of the logo of Saudi state oil giant Aramco during the 10th Global Competitiveness Forum in the capital Riyadh. Photo by Fayez Nureldine/AFP

Saudi regulator approves Aramco share offering

Nov 03, 2019 - 2:26 PM

The IPO is the linchpin of Crown Prince Mohammed bin Salman's plan to revamp Saudi Arabia's economy and wean it off a decades-long dependence on oil

SAUDI ARAMCO. In this file photo taken on January 25, 2016, Saudi and Foreign investors stand in front of the logo of Saudi state oil giant Aramco during the 10th Global Competitiveness Forum in the capital Riyadh. Photo by Fayez Nureldine/AFP

Aramco IPO will be Saudi crown prince's decision – minister

Oct 30, 2019 - 7:00 PM

Saudi Arabia's energy minister says Crown Prince Mohammed bin Salman will dictate the timing of Aramco's long-delayed initial public offering

DELAYED IPO. A general view of Saudi Aramco's Abqaiq oil processing plant on September 20, 2019. File photo by Fayez Nureldine/AFP

Saudi Aramco says IPO timing depends on 'market conditions'

Oct 21, 2019 - 1:00 AM

The prospect of the world's most profitable firm falling short of a $2-trillion valuation is widely considered the reason the initial public offering has been delayed

A general view of Saudi Aramco's Abqaiq oil processing plant on September 20, 2019. - Saudi Arabia said on September 17 its oil output will return to normal by the end of September, seeking to soothe rattled energy markets after attacks on two instillations that slashed its production by half. The strikes on Abqaiq –- the world's largest oil processing facility –- and the Khurais oil field in eastern Saudi Arabia roiled energy markets and revived fears of a conflict in the tinderbox Gulf region. (Photo by Fayez Nureldine / AFP)

Iran denies role in Saudi attacks in message to U.S. – state media

Sep 18, 2019 - 5:51 PM

The formal memo 'emphasized that Iran has not played any role in this attack,' the official IRNA news agency says

IRAN DENIES ATTACKS. A handout picture provided by the Iranian presidency shows President Hassan Rouhani (C) chairing a cabinet meeting in the capital Tehran on September 18, 2019. Handout photo by the Iranian Presidency/AFP

Oil prices surge after attacks hammer Saudi output

Sep 16, 2019 - 10:23 AM

(UPDATED) The attack on Saudi Arabia's Aramco facilities by Tehran-backed Huthi rebels in neighboring Yemen effectively shuts down 6% of the global oil supply

GAS PRICES. In this file photo taken on April 9, 2019 a child pumps gas for his father at a gas station in Los Angeles, as southern California gas prices, already the highest in the nation, continue to rise. File photo by Frederic J. Brown/AFP

Saudi Aramco: From 'Prosperity Well' to energy giant

Sep 16, 2019 - 8:17 AM

The drone strikes against Saudi Aramco facilities in recent months halt the flow of 5.7 million barrels of oil per day, undermining plans for a stock market debut

SAUDI ARABIA'S ARAMCO. A picture taken on September 15, 2019 shows an Aramco oil facility near al-Khurj area, just south of the Saudi capital Riyadh. Photo by Fayez Nureldine/AFP

U.S. hints at military response to Saudi attacks as oil prices surge

Sep 16, 2019 - 7:55 AM

(UPDATED) It is the first time US President Donald Trump has hinted at a potential American military response to the attacks

TRUMP. US President Donald Trump gives a statement about the recent mass shootings in El Paso and Dayton before boarding to Washington at Morristown Airport on August 04, 2019. File photo by Nicholas Kamm/AFP

Saudi Arabia battles market jitters after oil plant attacks

Sep 16, 2019 - 7:43 AM

It is a test for the kingdom's newly appointed energy minister Prince Abdulaziz bin Salman as the attacks could dampen investor confidence in Aramco's upcoming stock market debut

DRONE ATTACKS. Smoke billows from an Aramco oil facility in Abqaiq about 60 kilometers southwest of Dhahran in Saudi Arabia's eastern province on September 14, 2019. Photo by AFP

Saudi races to restore oil supply after strike blamed on Iran

Sep 15, 2019 - 7:00 PM

The Aramco CEO says that 'work is underway' to restore full production, and Saudi's energy minister says oil reserves will be tapped to offset the drop

SAUDI ARAMCO. In this file photo taken on January 25, 2016, Saudi and Foreign investors stand in front of the logo of Saudi state oil giant Aramco during the 10th Global Competitiveness Forum in the capital Riyadh. Photo by Fayez Nureldine/AFP

Iran refutes U.S. accusations over Saudi attacks

Sep 15, 2019 - 5:02 PM

'The Americans have taken the policy of 'maximum pressure' which has apparently turned into 'maximum lying' due to their failures,' says a foreign ministry spokesman

Saudi halts production at attacked oil plants – minister

Sep 15, 2019 - 9:37 AM

Saudi Aramco says the drone attacks caused production suspension of 5.7 million barrels of crude oil per day

DRONE ATTACKS. Smoke billows from an Aramco oil facility in Abqaiq about 60 kilometers southwest of Dhahran in Saudi Arabia's eastern province on September 14, 2019. Photo by AFP

Yemeni rebel drones spark fires at 2 Saudi Aramco oil facilities

Sep 14, 2019 - 2:04 PM

(4th UPDATE) The rebels launched 'a large-scale operation involving 10 drones that targeted refineries in Abqaiq and Khurais in eastern Saudi Arabia,' a Yemeni TV channel says

DRONE STRIKE. In this file photo taken on February 25, 2006 Saudi security guard the entrance of the oil processing plant of the Saudi state oil giant Aramco in Abqaiq in the oil-rich Eastern Province. File photo by AFP

Aramco says ready for 2-stage IPO, timing up to Saudi gov't

Sep 11, 2019 - 6:30 PM

The Saudi government has not given any explanation for the delays in Aramco's initial public offering, which could be the world's biggest stock sale

OIL PRODUCTION. A picture taken on May 10, 2016, shows Shaybah, the base for Saudi Aramco's Natural Gas Liquids plant and oil production in Saudi Arabia. File photo by Ian Timberlake/AFP

Saudi Aramco net income slips to $46.9 billion in H1 2019

Aug 12, 2019 - 7:10 PM

(UPDATED) The secretive Saudi Aramco discloses half-year financial results for the first time

OIL PRODUCTION. A picture taken on May 10, 2016 shows Shaybah, the base for Saudi Aramco's Natural Gas Liquids plant and oil production in Saudi Arabia. File photo by Ian Timberlake/AFP

Saudi Aramco CEO predicts oil market balance by early 2017

Nov 02, 2016 - 3:30 PM

The gap between supply and demand is closing says Amin Nasser

Amin al-Nasser, president of state oil giant Saudi Aramco, delivers a speech on October 11, 2016 during the 23rd World Energy Congress in Istanbul.  World Energy Congress in Istanbul brings together players across the energy sector to discuss a transformation of the sector. Saudi Arabia said on October 10 it was "not unthinkable" that the price of crude oil could surge to $60 a barrel by the end of the year but warned against drastic production cuts that might shock markets. / AFP PHOTO / OZAN KOSE

Oil market still weak despite recovery – Saudi Aramco

Sep 26, 2016 - 10:50 PM

There are fears that oil producing countries will not be able to reach a deal in Algiers this week

A picture taken on May 10, 2016 shows over Shaybah, the base for Saudi Aramco's Natural Gas Liquids plant and oil production in the surrounding Shaybah field in Saudi Arabia's remote Empty quarter desert close to the United Arab Emirates, on May 10, 2016. Despite collapsed global oil prices, production is expanding at Shaybah, as it is in other units of the company at the centre of the kingdom's Vision 2030 drive for diversification away from oil. The Saudi government plans to sell less than five percent of the company in what officials say will be the world's largest-ever share offering, while transforming Saudi Aramco into "a global industrial conglomerate". By 2020 the company says it will have tripled its gas processing capacity from levels at the turn of the century. / AFP PHOTO / IAN TIMBERLAKE

Di tengah anomali bisnis minyak, Pertamina berhasil capai keuntungan US$1,42 miliar

Jun 04, 2016 - 11:51 PM

Apa rahasia PT Pertamina sehingga tetap bisa mencapai keuntungan di tengah bisnis minyak yang menurun?

KEUNTUNGAN PERTAMINA. Di tengah anomali bisnis minyak, Pertamina tetap bisa mencapai keuntungan US$1,42 miliar. Apa rahasianya? Foto oleh ANTARA

Pertamina dan Saudi Aramco tandatangani kontrak lanjutan kilang minyak Cilacap

May 23, 2016 - 4:34 PM

Biaya yang dibutuhkan untuk proyek kerjasama ini sekitar US 4 miliar sampai US 5 miliar Ini bagian dari strategi Pertamina menjadi perusahaan energi terbesar di dunia

Despite oil uncertainty, no red flags for Middle East OFWs for now

Mar 01, 2016 - 7:30 PM

The latest jobs report from Abu Dhabi Dubai and Saudi Arabia show a slight decrease in job orders

11 dead, dozens hurt in fire at Saudi oil giant housing complex

Aug 30, 2015 - 10:06 PM

The incident is currently under control and cooling operations are ongoing

Chevron, Shell are world's leading carbon-emitting companies

Dec 13, 2013 - 2:15 PM

A study lists down the 90 fossil fuel companies responsible for 63 of the world s carbon emissions since the Industrial Revolution

CLIMATE CHAOS. The combustion of fossil fuels like oil, gas and coal by energy companies is largely responsible for climate change