Company Insights Saudi Aramco Oil & Gas Latest Saudi Aramco DevelopmentsAI Insights Saudi Aramco will pay a dividend of 80 billion Saudi Riyal (21.4 billion US dollars) for the fourth quarter of 2024, despite a 12 percent drop in its full-year net profit to 106 billion US dollars4. The company reduced crude oil prices for Asian buyers in April by 40 cents to 3.50 US dollars a barrel above the average of Oman and Dubai prices5. Saudi Aramco's shipments of crude oil to China, its largest customer, are set to decrease in April to around 35.5 million barrels due to scheduled maintenance at several refineries3. Saudi Aramco plans to increase its petrochemical production capacity by up to four million barrels per day by 2030. The company will focus on expanding its presence in Asia, where it holds stakes in several large projects in China, Malaysia and South Korea2. Saudi Aramco raised 29.4 billion US dollars in its domestic initial public offer in 2019, the largest public debut of a company at the time1. Saudi Aramco Overview Saudi Aramco is the majority state-owned energy company of Saudi Arabia. One of the top five largest companies by revenue in the world, the petroleum and natural gas company was founded in 1933 as California-Arabian Standard Oil. The company’s shares began trading on the Tadawul stock exchange in 2019, when it raised US$25.6 billion, the world’s largest IPO. Aramco’s headquarters are in Dhahran in Saudi Arabia’s eastern province. It runs more than one hundred oil and gas fields in Saudi Arabia, including more than 288 trillion standard cubic feet of natural gas reserves. It produces the most oil in the world – more than 12 million barrels of oil equivalent per day. Its Master Gas System, an extensive network of pipelines that connects key gas production and processing sites, is one of the world’s largest hydrocarbon networks. Aramco’s global operations cover exploration, production, refining, chemicals, distribution and marketing, all of which are monitored by the Saudi Arabian Ministry of Petroleum and Mineral Resources and the Supreme Council for Petroleum and Minerals. Subsidiaries include Sabic, Petro Rabigh, Satorp, Aramco Trading, Yanbu, Yasref, S-Oil and Wa’ed Ventures. Saudi Aramco says it is committed to sustainability and is playing a part in the energy transition by developing hydrogen and carbon capture technologies. It is also investing more in climate tech, AI, quantum computing and other Saudi Arabian tech startups. Saudi Aramco News Analysis Oil & Gas Gulf oil investment ‘can weather price slump’ International oil prices may have fallen to their lowest in four years but that is unlikely to disrupt the exploration and production investment plans of Gulf national oil producers, energy analysts have said. But Middle East and North Africa producers outside the GCC may not be so lucky. Crude oil fell below $60 a barrel […] April 29, 2025 Petrochemicals China’s Sinopec in $4bn joint venture with Saudi Aramco China’s state-run Sinopec said on Monday it had signed an agreement with a unit of Saudi Aramco to establish a joint venture company with a registered capital of 28.80 billion yuan ($3.95 billion). The agreement was signed by Sinopec, its unit Fujian Petroleum Chemical Industry Co, and Saudi Aramco’s Singaporean unit Aramco Asia Singapore. Sinopec and its unit […] April 29, 2025 Video length: 02:01 Opinion Transport Is the DB12 the supercar to lead Aston Martin’s recovery? The model could be a turning point in the fortunes of the iconic brand April 25, 2025 Editor's Insight Trade India and Saudi Arabia’s common bonds Events may have overshadowed Narendra Modi’s trip to Jeddah this week – the Indian prime minister was forced to cut his visit short because of an attack in Kashmir – but there was much for him to discuss with his Saudi hosts. Amid market volatility and the new dispensation from Washington, Saudi Arabia and India – […] April 24, 2025 Trade New oil refineries in India among Saudi trade deals Saudi Arabia and India have strengthened their trade partnership in the areas of energy, defence, tourism and culture following a visit by Indian prime minister Narendra Modi this week. Energy sector agreements include plans for two new oil refineries in India and collaboration on petrochemicals, electricity, renewable energy and climate policy, Bloomberg reported. The countries, […] April 24, 2025 Energy Gulf share of India oil market slides on Russia gains India’s pivot toward discounted Russian crude oil has accelerated, eroding the dominance of traditional Middle Eastern suppliers in one of the world’s fastest-growing oil markets. In the Indian fiscal year ending March 31, Russia retained its position as India’s top oil supplier for a third year in row, Reuters reported, based on ship tracking data […] April 23, 2025 Giga-projects Aiman Al Mudaifer named permanent CEO of Neom Neom is to appoint Aiman Al Mudaifer as its permanent chief executive, more than five months after he took on the role of acting CEO. Al Mudaifer has worked for the Public Investment Fund, the $925 billion sovereign wealth fund backing Neom, since 2018. He took over the CEO’s post at Neom, one of the […] April 23, 2025 Opinion Oil & Gas Despite Trump, China still has a big thirst for Gulf oil Gulf suppliers are taking immediate advantage of Washington’s hardline trade posture April 22, 2025 Markets Population burst bolsters Dubai’s listed companies Listed companies in Dubai were on average the most profitable last year among the Gulf exchanges as the emirate’s banking, real estate and telecom sectors benefited from its expanding population. Net profit at Dubai’s listed companies totalled $25.4 billion, up 16 percent compared with the year before, according to a report by Kuwaiti asset manager […] April 21, 2025 Oil & Gas Adnoc on shortlist to buy Shell South Africa fuel stations Abu Dhabi National Oil Company (Adnoc) has been shortlisted to acquire Shell’s fuel stations and other downstream assets in South Africa for as much as $1 billion. Shell’s portfolio in South Africa includes about 600 fuel stations and local trading operations, Bloomberg reported, without identifying its sources. Shell has appointed Rothschild to run the sale […] April 18, 2025 Posts navigation 1 2 … 52 Next
Analysis Oil & Gas Gulf oil investment ‘can weather price slump’ International oil prices may have fallen to their lowest in four years but that is unlikely to disrupt the exploration and production investment plans of Gulf national oil producers, energy analysts have said. But Middle East and North Africa producers outside the GCC may not be so lucky. Crude oil fell below $60 a barrel […] April 29, 2025
Petrochemicals China’s Sinopec in $4bn joint venture with Saudi Aramco China’s state-run Sinopec said on Monday it had signed an agreement with a unit of Saudi Aramco to establish a joint venture company with a registered capital of 28.80 billion yuan ($3.95 billion). The agreement was signed by Sinopec, its unit Fujian Petroleum Chemical Industry Co, and Saudi Aramco’s Singaporean unit Aramco Asia Singapore. Sinopec and its unit […] April 29, 2025
Video length: 02:01 Opinion Transport Is the DB12 the supercar to lead Aston Martin’s recovery? The model could be a turning point in the fortunes of the iconic brand April 25, 2025
Editor's Insight Trade India and Saudi Arabia’s common bonds Events may have overshadowed Narendra Modi’s trip to Jeddah this week – the Indian prime minister was forced to cut his visit short because of an attack in Kashmir – but there was much for him to discuss with his Saudi hosts. Amid market volatility and the new dispensation from Washington, Saudi Arabia and India – […] April 24, 2025
Trade New oil refineries in India among Saudi trade deals Saudi Arabia and India have strengthened their trade partnership in the areas of energy, defence, tourism and culture following a visit by Indian prime minister Narendra Modi this week. Energy sector agreements include plans for two new oil refineries in India and collaboration on petrochemicals, electricity, renewable energy and climate policy, Bloomberg reported. The countries, […] April 24, 2025
Energy Gulf share of India oil market slides on Russia gains India’s pivot toward discounted Russian crude oil has accelerated, eroding the dominance of traditional Middle Eastern suppliers in one of the world’s fastest-growing oil markets. In the Indian fiscal year ending March 31, Russia retained its position as India’s top oil supplier for a third year in row, Reuters reported, based on ship tracking data […] April 23, 2025
Giga-projects Aiman Al Mudaifer named permanent CEO of Neom Neom is to appoint Aiman Al Mudaifer as its permanent chief executive, more than five months after he took on the role of acting CEO. Al Mudaifer has worked for the Public Investment Fund, the $925 billion sovereign wealth fund backing Neom, since 2018. He took over the CEO’s post at Neom, one of the […] April 23, 2025
Opinion Oil & Gas Despite Trump, China still has a big thirst for Gulf oil Gulf suppliers are taking immediate advantage of Washington’s hardline trade posture April 22, 2025
Markets Population burst bolsters Dubai’s listed companies Listed companies in Dubai were on average the most profitable last year among the Gulf exchanges as the emirate’s banking, real estate and telecom sectors benefited from its expanding population. Net profit at Dubai’s listed companies totalled $25.4 billion, up 16 percent compared with the year before, according to a report by Kuwaiti asset manager […] April 21, 2025
Oil & Gas Adnoc on shortlist to buy Shell South Africa fuel stations Abu Dhabi National Oil Company (Adnoc) has been shortlisted to acquire Shell’s fuel stations and other downstream assets in South Africa for as much as $1 billion. Shell’s portfolio in South Africa includes about 600 fuel stations and local trading operations, Bloomberg reported, without identifying its sources. Shell has appointed Rothschild to run the sale […] April 18, 2025
