Company Insights Saudi Aramco Oil & Gas Saudi Aramco News Analysis Oil & Gas Gulf geology ideal for carbon capture, say experts The Gulf’s geology and decades-old oil and gas industry could enable the region to become a world leader in carbon capture, utilisation and storage (CCUS), experts believe. Gulf oil producers have been using carbon dioxide (CO2) capture technology for more than 40 years to remove the compound from natural gas before it is shipped for […] August 10, 2023 Oil & Gas Saudi Aramco profit slumps after oil price drop Saudi Aramco on Monday reported income of $30 billion for the second quarter of 2023, down by more than a third from this time last year as oil prices fell. The company said in a filing to the Saudi Stock Exchange that the decrease mainly reflected the impact of lower crude oil prices and weakening […] August 7, 2023 Finance PIF says assets hit $594bn despite $16bn loss in 2022 Saudi Arabia’s Public Investment Fund (PIF) said gross assets under management (AUM) exceeded SAR2.23 trillion ($594.43 billion) in 2022, rising 12.62 percent from the previous year. International investments made up 23 percent of its AUM, worth SAR512 billion, while 68 percent were local investments (SAR1.72 trillion), PIF said in its annual report for 2022. The […] August 7, 2023 Manufacturing Sabic profit slumps 85% as recovery slows Saudi Basic Industries Corp (Sabic), one of the world’s largest petrochemical companies, has reported an 85 percent slump in net profit to SAR 1.8 billion ($480 million) during the first half of this year. Sabic’s shares have fallen 4.6 percent since January, and remained mostly flat after the results were released. Experts said a recovery […] August 3, 2023 Opinion Energy Inside the Gulf’s great energy balancing act The region must be mindful of cannibalising hydrocarbons too early August 2, 2023 Energy PIF-backed contractor to buy Dubai energy services firm Saudi contracting firm Nesma & Partners has agreed to acquire Kent, a Dubai-based privately-owned energy services provider. The company, which is partly owned by Saudi Arabia’s Public Investment Fund (PIF), will close the acquisition of Kent by year-end, subject to regulatory approvals. The value of the deal was not given. Kent, backed by UK-based energy […] August 2, 2023 Opinion Oil & Gas Saudi takes one for the team in global oil markets The kingdom has been doing all the heavy lifting in Opec+ July 31, 2023 Energy Aramco signs pact to set up $10bn refinery in Pakistan Saudi Aramco has signed a memorandum of understanding with four Pakistani state-owned enterprises to set up a $10 billion oil refinery, the largest in the country. The Pakistani government is in the advanced stages of negotiations with Aramco to execute the greenfield refinery project at the Gwadar Port. It aims to complete the initial paperwork […] July 30, 2023 Banking and Finance Abu Dhabi asset manager plans $250m carbon fund Offset8 Capital, an Abu Dhabi asset management company, is planning to raise $250 million for a carbon investment fund focused on financing climate mitigation and adaptation projects. Proposed investments will aim to support local communities in Africa and Southeast Asia on projects involving mangrove restoration, reforestation and biochar. Offset8, which is based in the financial […] July 27, 2023 Banking and Finance Moody’s opts to keep Iraq on lowly sovereign rating An influential ratings agency has decided to keep Iraq on one of its lowest sovereign ratings, despite the country’s strong oil exports and recovering foreign exchange reserves. Moody’s Investor Services said in an annual review released last week that corruption and weak institutions prompted it to maintain Iraq on a Caa1 rating, which is on […] July 25, 2023 Posts navigation Previous 1 … 40 41 42 … 55 Next
Analysis Oil & Gas Gulf geology ideal for carbon capture, say experts The Gulf’s geology and decades-old oil and gas industry could enable the region to become a world leader in carbon capture, utilisation and storage (CCUS), experts believe. Gulf oil producers have been using carbon dioxide (CO2) capture technology for more than 40 years to remove the compound from natural gas before it is shipped for […] August 10, 2023
Oil & Gas Saudi Aramco profit slumps after oil price drop Saudi Aramco on Monday reported income of $30 billion for the second quarter of 2023, down by more than a third from this time last year as oil prices fell. The company said in a filing to the Saudi Stock Exchange that the decrease mainly reflected the impact of lower crude oil prices and weakening […] August 7, 2023
Finance PIF says assets hit $594bn despite $16bn loss in 2022 Saudi Arabia’s Public Investment Fund (PIF) said gross assets under management (AUM) exceeded SAR2.23 trillion ($594.43 billion) in 2022, rising 12.62 percent from the previous year. International investments made up 23 percent of its AUM, worth SAR512 billion, while 68 percent were local investments (SAR1.72 trillion), PIF said in its annual report for 2022. The […] August 7, 2023
Manufacturing Sabic profit slumps 85% as recovery slows Saudi Basic Industries Corp (Sabic), one of the world’s largest petrochemical companies, has reported an 85 percent slump in net profit to SAR 1.8 billion ($480 million) during the first half of this year. Sabic’s shares have fallen 4.6 percent since January, and remained mostly flat after the results were released. Experts said a recovery […] August 3, 2023
Opinion Energy Inside the Gulf’s great energy balancing act The region must be mindful of cannibalising hydrocarbons too early August 2, 2023
Energy PIF-backed contractor to buy Dubai energy services firm Saudi contracting firm Nesma & Partners has agreed to acquire Kent, a Dubai-based privately-owned energy services provider. The company, which is partly owned by Saudi Arabia’s Public Investment Fund (PIF), will close the acquisition of Kent by year-end, subject to regulatory approvals. The value of the deal was not given. Kent, backed by UK-based energy […] August 2, 2023
Opinion Oil & Gas Saudi takes one for the team in global oil markets The kingdom has been doing all the heavy lifting in Opec+ July 31, 2023
Energy Aramco signs pact to set up $10bn refinery in Pakistan Saudi Aramco has signed a memorandum of understanding with four Pakistani state-owned enterprises to set up a $10 billion oil refinery, the largest in the country. The Pakistani government is in the advanced stages of negotiations with Aramco to execute the greenfield refinery project at the Gwadar Port. It aims to complete the initial paperwork […] July 30, 2023
Banking and Finance Abu Dhabi asset manager plans $250m carbon fund Offset8 Capital, an Abu Dhabi asset management company, is planning to raise $250 million for a carbon investment fund focused on financing climate mitigation and adaptation projects. Proposed investments will aim to support local communities in Africa and Southeast Asia on projects involving mangrove restoration, reforestation and biochar. Offset8, which is based in the financial […] July 27, 2023
Banking and Finance Moody’s opts to keep Iraq on lowly sovereign rating An influential ratings agency has decided to keep Iraq on one of its lowest sovereign ratings, despite the country’s strong oil exports and recovering foreign exchange reserves. Moody’s Investor Services said in an annual review released last week that corruption and weak institutions prompted it to maintain Iraq on a Caa1 rating, which is on […] July 25, 2023
