Saudi Aramco To Prioritise Energy Supply To China For 50 Yrs, Says CEO

Saudi Aramco will ensure China’s energy security remains its highest priority for the next 50 years and beyond as new and existing energy sources run in parallel for some time, CEO Amin Nasser told the China Development Forum on Sunday. Saudi Arabia, the world’s biggest oil exporter, retained its position as China’s top supplier in … More Saudi Aramco To Prioritise Energy Supply To China For 50 Yrs, Says CEO

Saudi Aramco 2020 Net Profit Slumps 44.4% As COVID-19 Bites

Saudi Arabia state oil giant Aramco on Sunday reported a 33.4 drop in 2020 net profit, hit by lower crude oil prices and volumes sold, and weakened refinery margins, as the coronavirus pandemic depressed demand. Net profit fell to 183,76 billion riyals ($49.00 billion) for the year that ended December 31, from 330,69 billion riyals … More Saudi Aramco 2020 Net Profit Slumps 44.4% As COVID-19 Bites

Riyadh Oil Refinery Targeted By Drones, Fire Brought Under Control: Saudi Official

The oil refinery in Saudi Arabia’s capital Riyadh was targeted by drones, causing a fire which was under control with no injuries reported, a Ministry of Energy official says, according to the official SPA. The source also said there were no injuries reported, adding that the oil supply not its derivatives were affected. ‘The Kingdom asserts … More Riyadh Oil Refinery Targeted By Drones, Fire Brought Under Control: Saudi Official

Yemen’s Houthis Say Drone Attack Hits Saudi Aramco In Riyadh

Yemen’s Houthi group said on Friday it hit a facility belonging to the state-controlled oil giant Saudi Aramco in Riyadh, in a attack comprising six drones. Yahya Sarea, a spokesman for the Iran – aligned group’s military did not give further details about the targets he said were hit. Sarea said operations against Saudi Arabia … More Yemen’s Houthis Say Drone Attack Hits Saudi Aramco In Riyadh

Qatar Strongly Condemns Attacks On Facilities In Saudi Arabia

Qatar has strongly condemned and denounced the attempt to target Ras Tanura Port and Saudi Aramco’s facilities in Dhahran, Saudi Arabia. In a statement issued, the Qatari Foreign Affairs Ministry said that targeting vital installations and facilities in a subversive act the violates all international norms and laws and the would threaten the security and … More Qatar Strongly Condemns Attacks On Facilities In Saudi Arabia

Saudi Arabia Confirms Drone Attack On Aramco’s Ras Tanura Port

Saudi Arabia has confirmed one of its oil storage yards at the Ras Tanura port was attacked earlier in the day, according to a statement from a source at the Kingdom’s Energy Ministry. A drone that was used to attack a petroleum tank from at Ras Tanura port was launched from the sea, according to … More Saudi Arabia Confirms Drone Attack On Aramco’s Ras Tanura Port

BUSINESS | Aramco Could See More Shares To Benefit PIF, Crown Prince Tells FII

RIYADH – – Saudi Aramco, the world’s biggest oil company, could launch a second offering of shares to follow the historic initial public offering of 2019, Crown Prince Mohammed bin Salman told the Future Investment Initiative (FII) gathering. ‘This will yield a cash flow transferred to the Public Investment Fund (PIF) to be reinvested domestically … More BUSINESS | Aramco Could See More Shares To Benefit PIF, Crown Prince Tells FII

BREAKING NEWS | Saudis Tells U.N. That Houthis To Blame For Aramco Attack

NEW YORK – Saudi Arabia told the U.N. Security Council that Yemen’s Houthi group were to blame for a missile attack on a petroleum products distribution plant in Jeddah in Monday, urging the 15-member body to ‘stop the threat’ to global energy security, Yemen’s political process and regional security. ‘It has been identified that the … More BREAKING NEWS | Saudis Tells U.N. That Houthis To Blame For Aramco Attack

ECONOMY | Saudi Aramco Plans Debt Market Comeback With Multi – Tranche Bond Deal

Saudi Aramco said on Monday it had hired banks for a multi – tranche U.S. dollar – denominated bond issuance, as the world’s largest oil company seeks cash amid lower oil prices. Gulf issuers have shown no sign of slowing this year’s blitz of issues on international debt markets as they work to plug issues … More ECONOMY | Saudi Aramco Plans Debt Market Comeback With Multi – Tranche Bond Deal

ECONOMY | Aramco Extended $8 Billion Revolving Loans This Year: Bond

JEDDAH – – Saudi Aramco this year extended the maturity of two revolving credit facilities it took in 2015, meaning those loans worth a total of $8 billion will be available through March 2022, a bond prospectus showed. Aramco said on Monday it plans to issue multi-tranche U.S. dollar-denominate bonds, as the world’s largest oil … More ECONOMY | Aramco Extended $8 Billion Revolving Loans This Year: Bond