Company Insights Saudi Aramco Oil & Gas Saudi Aramco News Trade Saudi Arabia ‘close’ to US defence pact and arms deal Saudi Arabia could be close to a security pact with the United States that would enable the kingdom to buy arms, potentially including the sought-after F-35 fighter jet, and obtain some form of US defence guarantee, White House officials said this week. John Kirby, the president’s national security spokesperson, said on May 20 that the […] May 23, 2024 Artificial Intelligence UAE and France agree joint investments in AI France and the UAE are to increase their collaboration in artificial intelligence, including joint investments, as they seek to become leaders in the AI sector. The French economy minister, Bruno Le Maire, signed a strategic agreement with Khaldoon Al Mubarak, chief executive of the UAE investment fund Mubadala and a member of the Abu Dhabi […] May 22, 2024 Oil & Gas Adnoc buys 10% in LNG project in Mozambique Abu Dhabi National Oil Company (Adnoc) has acquired a 10 percent stake from Portugal’s Galp Energia in the Rovuma basin concession in Mozambique as part of its global growth strategy. The acquisition will allow the UAE energy major a share of the liquefied natural gas (LNG) production from the concession, which has a combined production capacity […] May 22, 2024 Energy Sabic to pay $1.4bn dividend despite profit drop Saudi Basic Industries Corporation (Sabic) has declared a cash dividend of more than SAR5 billion ($1.4 billion) for the first six months of 2024. The board of the company, which is wholly owned by oil giant Saudi Aramco, announced the dividend payout this week, paying SAR1.7 per share. The dividend payout will take place on […] May 22, 2024 Analysis Oil & Gas Oil keeps Russia and China close, but analysts warn it won’t last Russia was China’s biggest oil supplier once again in April, according to official figures, staying ahead of Saudi Arabia thanks to its cheaper crude. However, crude flows from Riyadh to Beijing are expected to increase as the kingdom strengthens its presence in the Chinese energy sector, analysts have told AGBI. Russia’s crude oil exports to […] May 21, 2024 Opinion Oil & Gas The fascinating complexity of China’s Middle East energy ties Saudi Aramco is seeking to anchor its position in the Chinese market, and particularly in petrochemicals May 20, 2024 Tech Aramco to use Saudi Arabia’s first quantum computer Saudi Arabia plans to deploy its first quantum computer, after an agreement between the state oil company, Saudi Aramco, and the French computing company Pasqal. Pasqal will install, maintain and operate a 200-qubit quantum computer, due for deployment in the latter half of 2025, Aramco said in a statement. Quantum computers use the principles of […] May 20, 2024 Finance Saudi listed companies report Q1 profit rise Businesses listed on the Saudi stock exchange, excluding the state energy giant Aramco, reported an 8 percent rise in first-quarter profits this year, highlighting the continued strength of the non-oil sector as hydrocarbon output is cut. Net profit gains in the banking sector, and for telecoms operator STC and state mining company Maaden, helped to […] May 20, 2024 Markets Bahrain Bourse needs more liquidity despite 43% surge The Bahrain Bourse has surged by almost 43 percent in the past five years, but experts have warned that the Gulf state must prioritise further listings to bring more liquidity into the market. The bulk of the growth on the kingdom’s main exchange has come from a select number of liquid stocks, topped by Aluminium […] May 15, 2024 Tech Flood warning startup Sadeem to seek more funding Tech startup Sadeem, which provides patented flood-warning systems to cities worldwide, will raise further funding this year, its co-founder told AGBI. The Gulf is among the driest inhabited regions worldwide, with on average less than 130 mm of rainfall annually, academic research shows. Yet when rainfall does occur it is often torrential and sustained, and […] May 13, 2024 Posts navigation Previous 1 … 26 27 28 … 55 Next
Trade Saudi Arabia ‘close’ to US defence pact and arms deal Saudi Arabia could be close to a security pact with the United States that would enable the kingdom to buy arms, potentially including the sought-after F-35 fighter jet, and obtain some form of US defence guarantee, White House officials said this week. John Kirby, the president’s national security spokesperson, said on May 20 that the […] May 23, 2024
Artificial Intelligence UAE and France agree joint investments in AI France and the UAE are to increase their collaboration in artificial intelligence, including joint investments, as they seek to become leaders in the AI sector. The French economy minister, Bruno Le Maire, signed a strategic agreement with Khaldoon Al Mubarak, chief executive of the UAE investment fund Mubadala and a member of the Abu Dhabi […] May 22, 2024
Oil & Gas Adnoc buys 10% in LNG project in Mozambique Abu Dhabi National Oil Company (Adnoc) has acquired a 10 percent stake from Portugal’s Galp Energia in the Rovuma basin concession in Mozambique as part of its global growth strategy. The acquisition will allow the UAE energy major a share of the liquefied natural gas (LNG) production from the concession, which has a combined production capacity […] May 22, 2024
Energy Sabic to pay $1.4bn dividend despite profit drop Saudi Basic Industries Corporation (Sabic) has declared a cash dividend of more than SAR5 billion ($1.4 billion) for the first six months of 2024. The board of the company, which is wholly owned by oil giant Saudi Aramco, announced the dividend payout this week, paying SAR1.7 per share. The dividend payout will take place on […] May 22, 2024
Analysis Oil & Gas Oil keeps Russia and China close, but analysts warn it won’t last Russia was China’s biggest oil supplier once again in April, according to official figures, staying ahead of Saudi Arabia thanks to its cheaper crude. However, crude flows from Riyadh to Beijing are expected to increase as the kingdom strengthens its presence in the Chinese energy sector, analysts have told AGBI. Russia’s crude oil exports to […] May 21, 2024
Opinion Oil & Gas The fascinating complexity of China’s Middle East energy ties Saudi Aramco is seeking to anchor its position in the Chinese market, and particularly in petrochemicals May 20, 2024
Tech Aramco to use Saudi Arabia’s first quantum computer Saudi Arabia plans to deploy its first quantum computer, after an agreement between the state oil company, Saudi Aramco, and the French computing company Pasqal. Pasqal will install, maintain and operate a 200-qubit quantum computer, due for deployment in the latter half of 2025, Aramco said in a statement. Quantum computers use the principles of […] May 20, 2024
Finance Saudi listed companies report Q1 profit rise Businesses listed on the Saudi stock exchange, excluding the state energy giant Aramco, reported an 8 percent rise in first-quarter profits this year, highlighting the continued strength of the non-oil sector as hydrocarbon output is cut. Net profit gains in the banking sector, and for telecoms operator STC and state mining company Maaden, helped to […] May 20, 2024
Markets Bahrain Bourse needs more liquidity despite 43% surge The Bahrain Bourse has surged by almost 43 percent in the past five years, but experts have warned that the Gulf state must prioritise further listings to bring more liquidity into the market. The bulk of the growth on the kingdom’s main exchange has come from a select number of liquid stocks, topped by Aluminium […] May 15, 2024
Tech Flood warning startup Sadeem to seek more funding Tech startup Sadeem, which provides patented flood-warning systems to cities worldwide, will raise further funding this year, its co-founder told AGBI. The Gulf is among the driest inhabited regions worldwide, with on average less than 130 mm of rainfall annually, academic research shows. Yet when rainfall does occur it is often torrential and sustained, and […] May 13, 2024
