Company Insights Saudi Aramco Oil & Gas Saudi Aramco News Oil & Gas Saudi Aramco boosts gas network with $25bn deals Saudi Aramco has awarded contracts exceeding $25 billion to expand its strategic gas programme. The state-owned energy major is aiming to increase production by more than 60 percent by 2030 compared to 2021 levels. The contracts relate to the phase two development of the Jafurah unconventional gas field, phase three expansion of Aramco’s master gas […] July 1, 2024 Energy Aramco to acquire 10% stake in UK’s Horse Powertrain Saudi Aramco has signed agreements to acquire 10 percent of UK-headquartered Horse Powertrain, a thermal engine joint venture between Renault Group, Zhejiang Geely Holding Group, and Geely Automobile Holdings. The Saudi oil major will acquire the equity stake in equal parts from Renault and Geely, each retaining a 45 percent stake. Aramco’s payment is subject […] July 1, 2024 Finance Kuwait opens wealth fund office in Saudi Arabia Kuwait’s sovereign wealth fund is to open an office in Saudi Arabia, as the kingdom turns to its Gulf neighbours to shore up flagging foreign investment in its giga-projects. Anwar al-Mudhaf, chairman of the Kuwait Investment Authority and Kuwait’s finance minister, praised Saudi Arabia as an investment location and as a key player in the […] June 28, 2024 Oil & Gas Aramco ventures further into US LNG market Saudi Aramco continues its push into the US liquefied natural gas sector with an initial agreement to buy a stake in Sempra’s Texas LNG export plant and for the supply of the fuel. Aramco has signed a non-binding agreement to buy 5 million tonnes per year of LNG for 20 years and a 25 percent […] June 27, 2024 Renewable Energy Saudi adds 5,500MW to meet its renewable energy target Saudi Arabia has launched three new mega solar PV projects with a total capacity of 5,500 megawatts (MW). State-owned Saudi Power Procurement Company (SPPC) has signed power purchase agreements for three projects with Acwa Power Company, Water & Electricity Holding Co. (Badeel), a wholly owned unit of Public Investment Fund, and Saudi Aramco Power Company. […] June 27, 2024 Energy Saudi Arabia ‘is and will remain the kingdom of energy’ Saudi Arabia will sustain its status as a global leader in oil and gas while spearheading green energy initiatives, the country’s minister of investment Khalid bin Abdulaziz Al Falih has said. The country “is and will remain the kingdom of energy,” Al Falih, who was previously CEO and president of state oil giant Aramco, told […] June 26, 2024 Finance Aramco chairman re-elected onto India’s Reliance board Saudi Aramco chairman Yasir Al-Rumayyan has been reappointed as an independent director on the board of India’s Reliance Industries Limited. Nearly 84 percent of shareholders voted in favour while 16 percent voted against his reappointment for the five-year term, the company said in a filing with the Bombay stock exchange. NewsletterGet the Best of AGBI […] June 24, 2024 EXCLUSIVE Tech Aramco adopts heat-sensing construction helmets Saudi Aramco is deploying advanced safety helmets equipped with heat stress sensors to protect workers on some of its construction sites, a critical concern in the Gulf region’s scorching climate. The helmets, developed by Dubai and Saudi Arabia-based construction tech startup WakeCap, utilise internet-of-things (IoT) technology that monitors worker attendance, location, and safety incidents in […] June 23, 2024 Oil & Gas Shell beats Aramco in race to buy LNG business Saudi Aramco, the world’s biggest oil exporter, has lost out to UK rival Shell in its bid to buy Pavilion Energy, a Singapore trader of liquefied natural gas (LNG), from Temasek, the Asian island nation’s sovereign investment fund. Both companies were shortlisted for a potential acquisition worth billions of dollars. No financial details of Shell’s […] June 19, 2024 Economy Saudi Arabia and UAE up in World Competitiveness Ranking Saudi Arabia and the UAE have improved their rankings in the annual IMD World Competitiveness Ranking this year, as both Gulf states embrace artificial intelligence (AI) to make their economies more productive. The list, which is compiled by the International Institute for Management Development (IMD) in Switzerland, saw the UAE rise three places to seventh, […] June 19, 2024 Posts navigation Previous 1 … 23 24 25 … 55 Next
Oil & Gas Saudi Aramco boosts gas network with $25bn deals Saudi Aramco has awarded contracts exceeding $25 billion to expand its strategic gas programme. The state-owned energy major is aiming to increase production by more than 60 percent by 2030 compared to 2021 levels. The contracts relate to the phase two development of the Jafurah unconventional gas field, phase three expansion of Aramco’s master gas […] July 1, 2024
Energy Aramco to acquire 10% stake in UK’s Horse Powertrain Saudi Aramco has signed agreements to acquire 10 percent of UK-headquartered Horse Powertrain, a thermal engine joint venture between Renault Group, Zhejiang Geely Holding Group, and Geely Automobile Holdings. The Saudi oil major will acquire the equity stake in equal parts from Renault and Geely, each retaining a 45 percent stake. Aramco’s payment is subject […] July 1, 2024
Finance Kuwait opens wealth fund office in Saudi Arabia Kuwait’s sovereign wealth fund is to open an office in Saudi Arabia, as the kingdom turns to its Gulf neighbours to shore up flagging foreign investment in its giga-projects. Anwar al-Mudhaf, chairman of the Kuwait Investment Authority and Kuwait’s finance minister, praised Saudi Arabia as an investment location and as a key player in the […] June 28, 2024
Oil & Gas Aramco ventures further into US LNG market Saudi Aramco continues its push into the US liquefied natural gas sector with an initial agreement to buy a stake in Sempra’s Texas LNG export plant and for the supply of the fuel. Aramco has signed a non-binding agreement to buy 5 million tonnes per year of LNG for 20 years and a 25 percent […] June 27, 2024
Renewable Energy Saudi adds 5,500MW to meet its renewable energy target Saudi Arabia has launched three new mega solar PV projects with a total capacity of 5,500 megawatts (MW). State-owned Saudi Power Procurement Company (SPPC) has signed power purchase agreements for three projects with Acwa Power Company, Water & Electricity Holding Co. (Badeel), a wholly owned unit of Public Investment Fund, and Saudi Aramco Power Company. […] June 27, 2024
Energy Saudi Arabia ‘is and will remain the kingdom of energy’ Saudi Arabia will sustain its status as a global leader in oil and gas while spearheading green energy initiatives, the country’s minister of investment Khalid bin Abdulaziz Al Falih has said. The country “is and will remain the kingdom of energy,” Al Falih, who was previously CEO and president of state oil giant Aramco, told […] June 26, 2024
Finance Aramco chairman re-elected onto India’s Reliance board Saudi Aramco chairman Yasir Al-Rumayyan has been reappointed as an independent director on the board of India’s Reliance Industries Limited. Nearly 84 percent of shareholders voted in favour while 16 percent voted against his reappointment for the five-year term, the company said in a filing with the Bombay stock exchange. NewsletterGet the Best of AGBI […] June 24, 2024
EXCLUSIVE Tech Aramco adopts heat-sensing construction helmets Saudi Aramco is deploying advanced safety helmets equipped with heat stress sensors to protect workers on some of its construction sites, a critical concern in the Gulf region’s scorching climate. The helmets, developed by Dubai and Saudi Arabia-based construction tech startup WakeCap, utilise internet-of-things (IoT) technology that monitors worker attendance, location, and safety incidents in […] June 23, 2024
Oil & Gas Shell beats Aramco in race to buy LNG business Saudi Aramco, the world’s biggest oil exporter, has lost out to UK rival Shell in its bid to buy Pavilion Energy, a Singapore trader of liquefied natural gas (LNG), from Temasek, the Asian island nation’s sovereign investment fund. Both companies were shortlisted for a potential acquisition worth billions of dollars. No financial details of Shell’s […] June 19, 2024
Economy Saudi Arabia and UAE up in World Competitiveness Ranking Saudi Arabia and the UAE have improved their rankings in the annual IMD World Competitiveness Ranking this year, as both Gulf states embrace artificial intelligence (AI) to make their economies more productive. The list, which is compiled by the International Institute for Management Development (IMD) in Switzerland, saw the UAE rise three places to seventh, […] June 19, 2024
