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Saudi Aramco News

The tech-heavy Nasdaq exchange was rocked by the emergence of DeepSeek, and S&P and Dow Jones have fallen, too

The Gulf is not immune to global economic fluctuations

It has been a torrid week in the US markets. The S&P 500 has fallen 8 percent over the past month – close to correction territory – while the Dow Jones Industrial Average has lost 6 percent. The dollar, too, has been hurt, which is of consequence to the Gulf’s dollar-pegged economies. The greenback has […]

Saudi china oil

Chinese demand for Saudi crude to drop 13% in April

Shipments of crude oil by Saudi Arabian to its biggest customer, China, are expected to drop in April to their lowest in more than a year, trade sources said on Thursday, partly due to maintenance at Chinese refineries owned by Sinopec. Saudi Arabia allocated about 35.5 million barrels of oil in April to its Chinese […]

Spiritus, which is receiving funding from Aramco Ventures, is building a 1,000-tonne DAC facility in New Mexico, which will begin operations this year

Aramco Ventures invests in global climate tech startups

The venture capital arm of Saudi Aramco, the world’s largest listed oil major, has invested in two climate tech startups. Aramco Ventures said it had invested in Ucaneo, a German company that is developing a direct air capture (DAC) demonstration plant expected to be commissioned in the first half of 2026. Ucaneo raised €6.75 million […]

2X5K4RN Multi-Ethnic Office Conference Room Meeting: Diverse Team of Top Managers, Executives, Share Digital Tablet Computer Talk. Businesspeople Discuss Strategy, do Analysis.

Growth-stage investment heats up as Gulf IPOs gain traction

Global investors are increasingly vying for stakes in later-stage Gulf startups, betting on the region’s economic expansion and stronger exit opportunities, as the regional IPO markets gain momentum. The region, long overlooked for growth-stage capital – minority investments in established companies aimed at accelerating expansion – is witnessing a surge of interest from giants such […]

UAE President Sheikh Mohamed bin Zayed Al Nahyan presides over the annual meeting of the Adnoc board of directors in November 2024

Adnoc targets foreign listing of investment arm XRG

Abu Dhabi National Oil Company (Adnoc) is considering listing its international investment arm XRG on an exchange outside of the UAE, three people with knowledge of the matter said. This could potentially create one of the largest listed energy companies in the world. The discussions to list a minority stake of XRG, which was established late […]

Aramco rigs in the Hasbah field. The state-owned company has cut the official selling price by 40 cents

UAE and Saudi Arabia cut prices of flagship crude

State-owned oil companies in the UAE and Saudi Arabia have lowered their benchmark crude oil prices. Saudi Aramco, the world’s top oil exporter, lowered crude oil prices for Asian buyers in April for the first time in three months, in line with market expectations and after Opec+ agreed to gradually increase supply in the same […]