Company Insights Saudi Aramco Oil & Gas Latest Saudi Aramco DevelopmentsAI Insights Saudi Aramco has recently embarked on several strategic initiatives to reinforce its position in the global energy and petrochemicals markets. The company has commenced construction of an integrated refining and petrochemical complex in Fujian Province, China, in collaboration with China Petroleum & Chemical Corporation and Fujian Petrochemical Company Limited. This project is a pivotal part of Aramco's liquids-to-chemicals strategy, aiming to fulfil growing global demand for petrochemicals1. Additionally, Aramco has signed a development framework agreement to expand the Sasref refinery in Jubail, Saudi Arabia. This expansion involves a partnership with Rongsheng Petrochemical, underlining Aramco's commitment to strengthening its downstream operations both domestically and internationally3. Meanwhile, Saudi Arabia's crude oil exports increased to a three-month high, as the kingdom burned significantly less oil for power, thus freeing up more for export. However, slowing demand from China and falling profit margins for Chinese refiners could pose challenges, prompting Saudi Aramco to reduce official selling prices to Asia2. In the investment domain, Aramco's venture capital arm, Wa'ed Ventures, participated in Series A funding for Stake, a fractional property ownership platform launching in Saudi Arabia. This investment highlights the rising interest in property technology as a promising sector4. The political landscape in the United States, with a potential second Trump administration, could affect energy dynamics. A strategy focused on bolstering domestic fossil fuels may impact oil pricing and present challenges for Gulf nations, including Saudi Arabia5. 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 Trade UK company to open ‘miracle material’ factory in Saudi Arabia The world’s first commercial production facility for graphene-enriched carbon fibre is to be built in Saudi Arabia, its backers have announced. Graphene Innovations Manchester (GIM) – a UK company that is developing the “miracle material” said to be stronger than diamond, more conductive than copper and more flexible than rubber – has signed an agreement […] December 10, 2024 Opinion Oil & Gas Seismic events in Syria will not affect oil markets. Here’s why Syria does have some oil but has been a footnote in global markets December 9, 2024 Analysis Business of Sport Saudi Arabia expands global reach with 900 sports deals Saudi Arabia’s vast number of sports sponsorship deals, now in excess of 900, are part of the kingdom’s strategy to diversify away from oil but their long-term success will not be known for some time to come, experts have said. Play the Game, a publicly funded sports ethics institute in Denmark, compiled a list of […] December 9, 2024 Real Estate Property app Stake to launch in Saudi Arabia A fractional-ownership platform that enables investors to own parcels of real estate for as little as SAR500 ($134) is to launch in Saudi Arabia on December 9. Based in Dubai, Stake offers investors the opportunity to buy parts of residential and commercial properties. Fractional property ownership is a rising trend in the global real estate market. […] December 6, 2024 Analysis Finance GCC sukuk’s best-kept secret: Dublin For many people, the city of Guinness and James Joyce may not be the first place that comes to mind when thinking about Islamic bonds. Yet, according to a report last month from Fitch Ratings, the Dublin stock exchange – Euronext Dublin – is now the world’s largest listing venue for hard currency global sukuk. […] December 5, 2024 Sustainability Arab funds pledge $10bn to fight desertification The Arab Coordination Group, an alliance of 10 development funds, is to provide $10 billion by 2030 to combat land degradation, desertification and drought, it was announced on the second day of the United Nations Convention to Combat Desertification event in Riyadh. The commitment brings the total pledged to these interrelated causes at the two-week […] December 4, 2024 Sustainability Saudi and French companies link up for green projects Saudi Arabia and France have signed commercial agreements to push the development of renewables and green fuel production in the kingdom. The agreements were signed at the Saudi-French Investment Forum, attended by French president Emmanuel Macron in Riyadh. Saudi Aramco, Saudi Investment Recycling Company (SIRC), a subsidiary of the Public Investment Fund (PIF), and France’s […] December 4, 2024 Opinion Cop28 Saudi Arabia goes on the offensive on climate change Over the next 10 days in Riyadh, the kingdom will have the chance to demonstrate its commitment December 3, 2024 Economy Saudi R&D growth fuelled by AI and green industries Research and development spending in Saudi Arabia increased by 17.4 percent in 2023, and the number of people employed in R&D rose significantly. Figures released by the General Authority for Statistics showed R&D spending of SAR22.6 billion ($6 billion) in 2023, up from SAR19.25 billion in 2022 and SAR14.5 billion in 2021. The total number […] December 2, 2024 Markets Saudi hospital operator Almoosa announces IPO Almoosa Health Company has announced plans to launch an initial public offering of 30 percent of its shares on the Saudi stock market. The price range for the offering will be announced on December 4, with the institutional book-building process starting the same day. This will be followed by a retail subscription period from December […] November 28, 2024 Posts navigation 1 2 … 43 Next
Trade UK company to open ‘miracle material’ factory in Saudi Arabia The world’s first commercial production facility for graphene-enriched carbon fibre is to be built in Saudi Arabia, its backers have announced. Graphene Innovations Manchester (GIM) – a UK company that is developing the “miracle material” said to be stronger than diamond, more conductive than copper and more flexible than rubber – has signed an agreement […] December 10, 2024
Opinion Oil & Gas Seismic events in Syria will not affect oil markets. Here’s why Syria does have some oil but has been a footnote in global markets December 9, 2024
Analysis Business of Sport Saudi Arabia expands global reach with 900 sports deals Saudi Arabia’s vast number of sports sponsorship deals, now in excess of 900, are part of the kingdom’s strategy to diversify away from oil but their long-term success will not be known for some time to come, experts have said. Play the Game, a publicly funded sports ethics institute in Denmark, compiled a list of […] December 9, 2024
Real Estate Property app Stake to launch in Saudi Arabia A fractional-ownership platform that enables investors to own parcels of real estate for as little as SAR500 ($134) is to launch in Saudi Arabia on December 9. Based in Dubai, Stake offers investors the opportunity to buy parts of residential and commercial properties. Fractional property ownership is a rising trend in the global real estate market. […] December 6, 2024
Analysis Finance GCC sukuk’s best-kept secret: Dublin For many people, the city of Guinness and James Joyce may not be the first place that comes to mind when thinking about Islamic bonds. Yet, according to a report last month from Fitch Ratings, the Dublin stock exchange – Euronext Dublin – is now the world’s largest listing venue for hard currency global sukuk. […] December 5, 2024
Sustainability Arab funds pledge $10bn to fight desertification The Arab Coordination Group, an alliance of 10 development funds, is to provide $10 billion by 2030 to combat land degradation, desertification and drought, it was announced on the second day of the United Nations Convention to Combat Desertification event in Riyadh. The commitment brings the total pledged to these interrelated causes at the two-week […] December 4, 2024
Sustainability Saudi and French companies link up for green projects Saudi Arabia and France have signed commercial agreements to push the development of renewables and green fuel production in the kingdom. The agreements were signed at the Saudi-French Investment Forum, attended by French president Emmanuel Macron in Riyadh. Saudi Aramco, Saudi Investment Recycling Company (SIRC), a subsidiary of the Public Investment Fund (PIF), and France’s […] December 4, 2024
Opinion Cop28 Saudi Arabia goes on the offensive on climate change Over the next 10 days in Riyadh, the kingdom will have the chance to demonstrate its commitment December 3, 2024
Economy Saudi R&D growth fuelled by AI and green industries Research and development spending in Saudi Arabia increased by 17.4 percent in 2023, and the number of people employed in R&D rose significantly. Figures released by the General Authority for Statistics showed R&D spending of SAR22.6 billion ($6 billion) in 2023, up from SAR19.25 billion in 2022 and SAR14.5 billion in 2021. The total number […] December 2, 2024
Markets Saudi hospital operator Almoosa announces IPO Almoosa Health Company has announced plans to launch an initial public offering of 30 percent of its shares on the Saudi stock market. The price range for the offering will be announced on December 4, with the institutional book-building process starting the same day. This will be followed by a retail subscription period from December […] November 28, 2024
