Company Insights Saudi Aramco Oil & Gas Saudi Aramco News Markets Aramco targets $50bn in IPO on local bourse Saudi Aramco is planning to sell a stake valued at $50 billion through a secondary share offering on the Saudi stock exchange, according to a media report. The sale is likely to happen before the end of the year after consultations with an adviser, the Wall Street Journal reported, citing Saudi officials. Aramco has been […] September 4, 2023 Oil & Gas Aramco in talks with Sinopec to expand Yanbu refinery China’s Sinopec Corp, the world’s largest refiner by capacity, is exploring expanding the Yasref refinery in Yanbu, Saudi Arabia, following a preliminary agreement with Saudi Aramco last December, a company executive told Reuters. The Chinese state-run company’s overseas investments to date include the 400,000 barrels-per-day (bpd) Yasref refinery and the $10 billion Amur Gas Chemical […] September 1, 2023 Tech Aramco’s VC unit leads tech startup’s $27m funding round Technology startup Rewaa has raised SAR100 million ($26.6 million) in a Series A funding round led by Wa’ed Ventures, Saudi Aramco’s venture capital fund. Saudi Telecom Company’s Corporate Innovation Fund (CIF), launched in February to invest in early-stage tech companies across various digital sectors, also participated in the round. Other investors included Silicon Valley’s Graphene Ventures, […] August 29, 2023 Exclusive Energy Dow Chemical oils wheels for Saudi Arabia expansion The Dow Chemical Company has put Saudi Arabia at the heart of its Middle East expansion strategy, its new regional president told AGBI. The multinational corporation, which makes chemicals used in everything from oil and plastics to paints and building materials, also wants to capitalise on higher gas demand in the region. Moosa Al Moosa, […] August 27, 2023 Banking and Finance 3D printer Immensa looks to fund global expansion Immensa, a company focused on 3D printing and digital warehousing, is preparing to close a second funding round. Founder and CEO Fahmi Al Shawwa said the funding will be used to fuel international expansion of the company, which uses data and technology to streamline warehouse operations. The company is based in Dubai, but opened a […] August 25, 2023 Oil & Gas Saudi gas boost to benefit petrochemicals and oil trade Saudi Arabia is likely to use an enormous shale gas play due to come into production next year to develop upstream petrochemicals and divert lucrative crude oil into exports, analysts say. Saudi Aramco, the state oil giant, says that the Jafurah field contains an estimated 200 trillion standard cubic feet (scf) of natural gas, which […] August 24, 2023 Energy Two Saudi solar projects secure $2.4bn funding A consortium led by Acwa Power has secured financial funding worth $2.37 billion for two solar projects, as Saudi Arabia looks to ramp up its renewable energy sector by the end of the decade. The Al Shuaibah 1 and Al Shuaibah 2 solar photovoltaic projects are expected to generate over 2.6 GW of clean electricity […] August 21, 2023 Analysis Oil & Gas Saudi Arabia and Abu Dhabi bet on crude-to-chemicals Saudi Arabia and Abu Dhabi’s state-run oil companies both want to expand their chemicals production capacity in a strategic shift that will have huge implications for a petrochemicals industry already suffering from its lowest margins in two decades. Saudi Aramco and Abu Dhabi National Oil Co (Adnoc) together provide around almost half of Opec’s crude […] August 18, 2023 Analysis Energy Saudi Arabia’s markets to feel petrochemicals slump Saudi Arabia’s petrochemicals producers reported plunging profits in the second quarter, and are likely to face further struggles due to weak demand, oversupply and high costs. There seems little scope for the industry to rebound until at least 2024, analysts now predict, as a hoped-for turnaround failed to materialise. This gloomy outlook will weigh on […] August 17, 2023 Construction Saudi Arabia first choice for China’s BRI investment Saudi Arabia remains one of China’s strongest global trade partners, leading Chinese engagement in the construction sector during the first half of 2023, according to the latest Belt and Road Initiative investment report issued by a leading think tank. Of 45 countries receiving Chinese financing and investment in the first six months of 2023, Saudi […] August 16, 2023 Posts navigation Previous 1 … 39 40 41 … 55 Next
Markets Aramco targets $50bn in IPO on local bourse Saudi Aramco is planning to sell a stake valued at $50 billion through a secondary share offering on the Saudi stock exchange, according to a media report. The sale is likely to happen before the end of the year after consultations with an adviser, the Wall Street Journal reported, citing Saudi officials. Aramco has been […] September 4, 2023
Oil & Gas Aramco in talks with Sinopec to expand Yanbu refinery China’s Sinopec Corp, the world’s largest refiner by capacity, is exploring expanding the Yasref refinery in Yanbu, Saudi Arabia, following a preliminary agreement with Saudi Aramco last December, a company executive told Reuters. The Chinese state-run company’s overseas investments to date include the 400,000 barrels-per-day (bpd) Yasref refinery and the $10 billion Amur Gas Chemical […] September 1, 2023
Tech Aramco’s VC unit leads tech startup’s $27m funding round Technology startup Rewaa has raised SAR100 million ($26.6 million) in a Series A funding round led by Wa’ed Ventures, Saudi Aramco’s venture capital fund. Saudi Telecom Company’s Corporate Innovation Fund (CIF), launched in February to invest in early-stage tech companies across various digital sectors, also participated in the round. Other investors included Silicon Valley’s Graphene Ventures, […] August 29, 2023
Exclusive Energy Dow Chemical oils wheels for Saudi Arabia expansion The Dow Chemical Company has put Saudi Arabia at the heart of its Middle East expansion strategy, its new regional president told AGBI. The multinational corporation, which makes chemicals used in everything from oil and plastics to paints and building materials, also wants to capitalise on higher gas demand in the region. Moosa Al Moosa, […] August 27, 2023
Banking and Finance 3D printer Immensa looks to fund global expansion Immensa, a company focused on 3D printing and digital warehousing, is preparing to close a second funding round. Founder and CEO Fahmi Al Shawwa said the funding will be used to fuel international expansion of the company, which uses data and technology to streamline warehouse operations. The company is based in Dubai, but opened a […] August 25, 2023
Oil & Gas Saudi gas boost to benefit petrochemicals and oil trade Saudi Arabia is likely to use an enormous shale gas play due to come into production next year to develop upstream petrochemicals and divert lucrative crude oil into exports, analysts say. Saudi Aramco, the state oil giant, says that the Jafurah field contains an estimated 200 trillion standard cubic feet (scf) of natural gas, which […] August 24, 2023
Energy Two Saudi solar projects secure $2.4bn funding A consortium led by Acwa Power has secured financial funding worth $2.37 billion for two solar projects, as Saudi Arabia looks to ramp up its renewable energy sector by the end of the decade. The Al Shuaibah 1 and Al Shuaibah 2 solar photovoltaic projects are expected to generate over 2.6 GW of clean electricity […] August 21, 2023
Analysis Oil & Gas Saudi Arabia and Abu Dhabi bet on crude-to-chemicals Saudi Arabia and Abu Dhabi’s state-run oil companies both want to expand their chemicals production capacity in a strategic shift that will have huge implications for a petrochemicals industry already suffering from its lowest margins in two decades. Saudi Aramco and Abu Dhabi National Oil Co (Adnoc) together provide around almost half of Opec’s crude […] August 18, 2023
Analysis Energy Saudi Arabia’s markets to feel petrochemicals slump Saudi Arabia’s petrochemicals producers reported plunging profits in the second quarter, and are likely to face further struggles due to weak demand, oversupply and high costs. There seems little scope for the industry to rebound until at least 2024, analysts now predict, as a hoped-for turnaround failed to materialise. This gloomy outlook will weigh on […] August 17, 2023
Construction Saudi Arabia first choice for China’s BRI investment Saudi Arabia remains one of China’s strongest global trade partners, leading Chinese engagement in the construction sector during the first half of 2023, according to the latest Belt and Road Initiative investment report issued by a leading think tank. Of 45 countries receiving Chinese financing and investment in the first six months of 2023, Saudi […] August 16, 2023
