BUSINESS | Saudi Aramco To Reduce Refinery Runs In April, May To Boost Oil Exports: Official

RIYADH | SAUDI ARABIA – Saudi Aramco will continue reducing operations at its local refineries in April and May to boost the state energy company’s potential to export crude oil, a company official said on Thursday. Saudi Arabia, the world’s top oil exporter, said on Wednesday it had directed Aramco to keep supplying crude at … Continue reading BUSINESS | Saudi Aramco To Reduce Refinery Runs In April, May To Boost Oil Exports: Official

BREAKING NEWS | Malaysia Says Five Dead In Fire At Petronas-Aramco Refinery Complex

KUALA LUMPUR – A fire killed five at the refinery and petrochemicals complex in southern Malaysia that is owned by Petronas and Saudi Aramco, officials said on Monday. The cause of the fire, which occurred at the diesel hydro treater unit, is under the investigation, the fire and rescue department of the Johor state, where … Continue reading BREAKING NEWS | Malaysia Says Five Dead In Fire At Petronas-Aramco Refinery Complex

BUSINESS | Saudi Aramco To Cut Capital Spending In 2020, Posts Drop 2019 Profit

RIYADH  - Saudi Aramco (2222.SE) on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, as it posted a 21% decline in 2019 net profit due to a drop in oil prices and production, its first earnings announcement as a listed company. The world’s most profitable company and by … Continue reading BUSINESS | Saudi Aramco To Cut Capital Spending In 2020, Posts Drop 2019 Profit

BUSINESS | Saudi Aramco’s 2019 Profit Down 21% On Weak Oil Price

RIYADH – Saudi Arabia’s state oil giant Aramco (2222.SE) said on Sunday its 2019 profit fell almost 21% due to lower crude oil prices and a drop in production volumes. Aramco posted a net profit of 330.69 billion Saudi riyal ($88.11 billion) after zakat and tax in the period ended Dec. 31, down from 416.52 … Continue reading BUSINESS | Saudi Aramco’s 2019 Profit Down 21% On Weak Oil Price

BUSINESS | Saudi Arabia Floods Europe With $25 Oil As Flight With Russia Escalates

LONDON – Saudi Arabia is flooding Europe with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in an escalation of its fight with Moscow for market share, five trading sources said on Friday. The sources, from oil major and refiners which process crude in Europe, said Saudi … Continue reading BUSINESS | Saudi Arabia Floods Europe With $25 Oil As Flight With Russia Escalates

BUSINESS | Saudi Aramco Announces Partnership With ‘Formula 1’

RIYADH – Saudi Aramco, the world’s largest integrated oil and gas company, announced today a new long-term global sponsorship with Formula 1. This sponsorship is considered as the first global sponsorship by Saudi Aramco for a huge sporting event which will enhance the company’s presence in front of 500 million of car racing fans. Saudi … Continue reading BUSINESS | Saudi Aramco Announces Partnership With ‘Formula 1’

BUSINESS | Saudi Arabia, Russia Raise Stake In Oil Standoff

RIYADH | Saudi Arabia said on Tuesday it would increase its crude oil supply to a record high, raising the stakes in its price war with Russia and effectively rejecting Moscow’s overture for new talks. The clash of the oil titans sparked a 25% slump in oil prices on Monday, triggering panic selling and heavy … Continue reading BUSINESS | Saudi Arabia, Russia Raise Stake In Oil Standoff