Company Insights Saudi Aramco Oil & Gas Saudi Aramco News Oil & Gas Aramco says Santos is not a target Saudi Aramco has denied reports that it was considering a bid for Santos, Australia’s second-largest oil and gas producer. In an emailed statement to Reuters, the Saudi oil giant said the information was inaccurate. The UAE’s Adnoc told AGBI that the company has no “comments on this report”. NewsletterGet the Best of AGBI delivered straight […] July 5, 2024 Business of Sport Fourteen Saudi football clubs for sale in new FDI drive Fourteen Saudi football clubs are up for sale, including four from the country’s top Pro League, as the country tries to monetise the sport and attract much-needed foreign investment. Six teams, including three in the Pro League – Al-Okhdood, Al-Orouba and Al-Kholoud – will be offered from August. The other eight will follow at a […] July 4, 2024 Energy Saudi Arabia to build new blue ammonia plant Saudi Arabia’s energy ministry has approved feedstock for a new blue ammonia plant. Sabic Agri-Nutrients Company, which trades on the Saudi stock exchange, will build its sixth facility in Jubail Industrial City to produce 1.2 million metric tonnes per annum (mmtpa) of low-carbon blue ammonia and 1.1 mmtpa of urea and specialised agri-nutrients. Engineering studies […] July 4, 2024 Oil & Gas Adnoc and Aramco consider bids for Australia’s Santos State-backed oil companies of the UAE and Saudi Arabia are considering bidding for Australia’s energy company, Santos, according to a media report. Aramco and Abu Dhabi National Oil Company (Adnoc) are conducting preliminary studies on acquiring Santos, Bloomberg said, adding no bids have been finalised. Shares of Santos rose nearly 1 percent on the Australian […] July 4, 2024 Giga-projects Consolidating giga-projects pushes PIF into profit Saudi Arabia’s Public Investment Fund (PIF) swung into profit in 2023, with revenues doubling to $88.3 billion. According to an audited financial statement the sovereign wealth fund has consolidated five schemes as it manages giga-project costs. PIF owns the development projects at the heart of Saudi Arabia’s economic reform plan but is now facing funding […] July 3, 2024 Banking and Finance Saudi forex reserves at 18-month high in boost to giga-projects Saudi Arabia’s foreign exchange reserves have shot up by nearly 7 percent this year to $445 billion in May, or SAR167 trillion, the highest since November 2022. The rise gives the government more scope to pump money into cash-constrained giga-projects. Saudi Arabia has raised $17 billion in debt markets this year. The Public Investment Fund […] July 2, 2024 Trade Saudi shipping line to link Jeddah with Chinese ports The Saudi Ports Authority has launched a new shipping service, CBS, at Jeddah Islamic Port in partnership with China’s NewNew Shipping Line, strengthening trade links between the two nations. The arrangement also aims to improve Saudi Arabia’s position on the Liner Shipping Connectivity Index, increase operational efficiency at ports, and strengthen the country’s connectivity with […] July 2, 2024 Oil & Gas Saudi Arabia reveals seven oil and gas discoveries Saudi Arabia has announced seven new oil and gas deposits in the Eastern Province and Empty Quarter. Two unconventional oil fields, a reservoir of light Arabian oil, two natural gas fields, and two natural gas reservoirs were discovered, energy minister Prince Abdulaziz bin Salman said. The unconventional oil fields and one reservoir were found in […] July 2, 2024 Economy Saudi PIF is top global investor in first half of 2024 Saudi Arabia’s Public Investment Fund was the highest-spending state-owned investor in the first half of 2024, while three Abu Dhabi institutions were also in the top five. The PIF owns stakes in various domestic companies including Saudi Aramco, Saudi Telecom Co and Saudi National Bank and is spearheading the kingdom’s giga-project development programme. It invested […] July 2, 2024 Trade Oil export dip fails to dent Saudi trade with China China is holding up as Saudi Arabia’s main trading partner – even after a fall in crude oil exports in the first half of the year that led to an Aramco price cut, which takes effect this month. The latest international trade bulletin from the General Authority for Statistics says China accounted for 16.6 percent […] July 1, 2024 Posts navigation Previous 1 … 22 23 24 … 55 Next
Oil & Gas Aramco says Santos is not a target Saudi Aramco has denied reports that it was considering a bid for Santos, Australia’s second-largest oil and gas producer. In an emailed statement to Reuters, the Saudi oil giant said the information was inaccurate. The UAE’s Adnoc told AGBI that the company has no “comments on this report”. NewsletterGet the Best of AGBI delivered straight […] July 5, 2024
Business of Sport Fourteen Saudi football clubs for sale in new FDI drive Fourteen Saudi football clubs are up for sale, including four from the country’s top Pro League, as the country tries to monetise the sport and attract much-needed foreign investment. Six teams, including three in the Pro League – Al-Okhdood, Al-Orouba and Al-Kholoud – will be offered from August. The other eight will follow at a […] July 4, 2024
Energy Saudi Arabia to build new blue ammonia plant Saudi Arabia’s energy ministry has approved feedstock for a new blue ammonia plant. Sabic Agri-Nutrients Company, which trades on the Saudi stock exchange, will build its sixth facility in Jubail Industrial City to produce 1.2 million metric tonnes per annum (mmtpa) of low-carbon blue ammonia and 1.1 mmtpa of urea and specialised agri-nutrients. Engineering studies […] July 4, 2024
Oil & Gas Adnoc and Aramco consider bids for Australia’s Santos State-backed oil companies of the UAE and Saudi Arabia are considering bidding for Australia’s energy company, Santos, according to a media report. Aramco and Abu Dhabi National Oil Company (Adnoc) are conducting preliminary studies on acquiring Santos, Bloomberg said, adding no bids have been finalised. Shares of Santos rose nearly 1 percent on the Australian […] July 4, 2024
Giga-projects Consolidating giga-projects pushes PIF into profit Saudi Arabia’s Public Investment Fund (PIF) swung into profit in 2023, with revenues doubling to $88.3 billion. According to an audited financial statement the sovereign wealth fund has consolidated five schemes as it manages giga-project costs. PIF owns the development projects at the heart of Saudi Arabia’s economic reform plan but is now facing funding […] July 3, 2024
Banking and Finance Saudi forex reserves at 18-month high in boost to giga-projects Saudi Arabia’s foreign exchange reserves have shot up by nearly 7 percent this year to $445 billion in May, or SAR167 trillion, the highest since November 2022. The rise gives the government more scope to pump money into cash-constrained giga-projects. Saudi Arabia has raised $17 billion in debt markets this year. The Public Investment Fund […] July 2, 2024
Trade Saudi shipping line to link Jeddah with Chinese ports The Saudi Ports Authority has launched a new shipping service, CBS, at Jeddah Islamic Port in partnership with China’s NewNew Shipping Line, strengthening trade links between the two nations. The arrangement also aims to improve Saudi Arabia’s position on the Liner Shipping Connectivity Index, increase operational efficiency at ports, and strengthen the country’s connectivity with […] July 2, 2024
Oil & Gas Saudi Arabia reveals seven oil and gas discoveries Saudi Arabia has announced seven new oil and gas deposits in the Eastern Province and Empty Quarter. Two unconventional oil fields, a reservoir of light Arabian oil, two natural gas fields, and two natural gas reservoirs were discovered, energy minister Prince Abdulaziz bin Salman said. The unconventional oil fields and one reservoir were found in […] July 2, 2024
Economy Saudi PIF is top global investor in first half of 2024 Saudi Arabia’s Public Investment Fund was the highest-spending state-owned investor in the first half of 2024, while three Abu Dhabi institutions were also in the top five. The PIF owns stakes in various domestic companies including Saudi Aramco, Saudi Telecom Co and Saudi National Bank and is spearheading the kingdom’s giga-project development programme. It invested […] July 2, 2024
Trade Oil export dip fails to dent Saudi trade with China China is holding up as Saudi Arabia’s main trading partner – even after a fall in crude oil exports in the first half of the year that led to an Aramco price cut, which takes effect this month. The latest international trade bulletin from the General Authority for Statistics says China accounted for 16.6 percent […] July 1, 2024
