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RARE PHOTOS: 11 - The Real Truth

Aramco and China's oil refiner Sinopec signed a Memorandum of Understanding on Wednesday in Riyadh for multiple potential collaborations in Saudi Arabia. The MoU outlines pathways for strategic cooperation between Aramco and Sinopec and supports the long-term relationship between the two companies and their existing joint ventures in China and…

Asharq Al-Awsat

Greg Norman confirms LIV Golf offered Tiger Woods $700-$800 million to join Saudi-backed league

"Tiger is a needle-mover, right? So, of course, you are going to look at the best of the best."

USA Today Sports Media Group

Aramco Agrees to Acquire Valvoline’s Global Products Business

Saudi Aramco announced on Monday the signing of an equity purchase agreement to acquire Valvoline Inc. global products business (“Valvoline Global Products” or “VGP”) for US$2.65 billion. The transaction is subject to certain customary adjustments set forth in the equity purchase agreement. Valvoline Global Products is a leading worldwide independent…

Asharq Al-Awsat

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Valvoline to sell its global products arm to Saudi's Aramco

Saudi Aramco has announced a $2.65 billion agreement to acquire Valvoline’s global products business, which includes motor oils, transmission fluids, coolants and other automotive maintenance products

The Independent UK

Asia’s richest men prep for battle as Gautam Adani enters Mukesh Ambani’s turf

MUMBAI: In June, Indian billionaire Mukesh Ambani and his aides ran into an unexpected dilemma when debating where to train the dealmaking lens of his empire next.

The Times of India

Energy secretary flown around Saudi Arabia by oil firm 'shows UK's hypocrisy'

Kwarteng was flown to various cities in the Saudi kingdom by majority state-owned oil firm Aramco

The National (Scotland)

Greg Norman sees a women’s LIV Golf league in the future. But how many would jump?

"The opportunity is there," Greg Norman said about starting a women's LIV Golf league. But how many on the LPGA would jump to a potential new league?

USA Today Sports Media Group

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Timeline: U.S.-Saudi ties through good times and bad

U.S. President Joe Biden visits Saudi Arabia at a rocky time in relations, which have been tested by the killing of Washington Post journalist Jamal Khashoggi and the Yemen war.

Reuters

Aramco Expands Namaat Industrial Investment Programs

Saudi Aramco announced on Tuesday a major expansion of its Namaat industrial investment programs, with 55 agreements and Memoranda of Understanding (MoUs) across the sustainability, digital, industrial, manufacturing and social innovation sectors. Namaat, which has grown from 32 to 55 investments since last year, supports industrial investment partnerships, helping to…

Asharq Al-Awsat

Saudi Aramco, Cognite Join Forces in New Data Venture

Saudi Aramco and Cognite have launched CNTXT, a joint venture based in Riyadh to support industrial digitalization of the Kingdom and the wider MENA region. CNTXT will provide digital transformation services enabled by advanced cloud solutions and leading industrial software.

Asharq Al-Awsat

Non-government Members Appointed on Saudi Central Bank’s Board

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, has agreed to appoint five non-government members to the Board of Directors of the Saudi Central Bank to lead the Kingdom’s financial sector. Sheila Al-Rowaily, who worked with Saudi Aramco, has become the first woman to join the board…

Asharq Al-Awsat

Google Cloud Chief Clarifies Aramco Deal Is Not For Oil Production

Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Cloud head Thomas Kurien clarified that its deal with oil giant Saudi Aramco did not include oil production, Bloomberg reports. “We work with Aramco system integration division, not with the oil-and-gas division,” Kurian said. Google’s critics, including its employees, have claimed that providing cloud tools to oil-and-gas…

Benzinga

Google to Open Two New HQs in Saudi Arabia

American multinational technology company Google is preparing for launching two new headquarter offices in the Kingdom of Saudi Arabia. The planned offices will open in the cities of Riyadh and al-Dammam. Google also is building a data partnership with Saudi oil giant, Aramco. Google drove about SR12.2 billion ($3.25 billion)…

Asharq Al-Awsat

Aramco CEO Warns of Global Oil Crunch Due to Lack of Investment

The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green energy pressures, the head of Saudi Aramco told Reuters, adding it cannot expand production capacity any faster than promised. Amin Nasser, head of the world's largest oil…

Asharq Al-Awsat

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The Times of India

Aramco-style dividend is what LIC investors seek post flop debut

NEW DELHI: Disappointed by a 7.8% plunge that made for the world’s second-worst trading debut among large IPOs this year, shareholders of state-run Life Insurance Corporation (LIC) of India will be counting on a bumper dividend if government wants them to stay put.

The Guardian - UK

Saudi oil giant Aramco reports 82% rise in quarterly profits

Investors to get $4bn in bonus shares after record earnings of $39.5bn on higher demand and crude prices

The Independent UK

Saudi oil giant Aramco's first-quarter profits surge 80%

Oil giant Saudi Aramco says its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and soaring oil prices following Russia’s invasion of Ukraine

Asharq Al-Awsat

Saudi Aramco's First-quarter Profits Surge 80%

Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year. The state-backed company’s first-quarter earnings show a record net income of $39.5 billion, up from $21.7 billion during the same period last year. Already, resurgent economic activity and the relaxation…

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Asharq Al-Awsat

Saudi Aramco, Thailand’s PTT Sign MoU to Deepen Energy Cooperation

Saudi Aramco and Thailand’s PTT have signed a memorandum of understanding (MoU) to deepen energy cooperation in Thailand. The MoU targets the supply and trading of crude oil, petrochemicals, and liquified natural gas (LNG). It focuses on clean energy, carbon capture, and electric vehicles, and outlined potential collaboration across both…

The Guardian - UK

Saudi Aramco overtakes Apple as world’s most valuable company

Soaring commodity prices swell oil giant’s profits as tech stock slide pegs back iPhone maker

Asharq Al-Awsat

Saudi Arabia Cuts Oil Prices to Asia by More than 50%

Saudi Arabia cut oil prices for buyers in Asia as coronavirus lockdowns in China weigh on demand, countering uncertainty around Russia’s supplies as the Ukraine war drags on. Aramco is expected to cut the official selling price (OSP) for flagship Arab Light crude to Asia in June by more than…

Asharq Al-Awsat

Saudi Dussur Signs 4 Joint Ventures, Global Acquisition Deal

The Saudi Arabian Industrial Investments (Dussur) announced the signing of five new shareholders' agreements, including four joint ventures and one global acquisition deal. Dussur, owned by PIF, Aramco, and SABIC, signed the agreement at a special event attended by Minister of Energy and Investment Prince Abdulaziz bin Salman, Minister of…

Asharq Al-Awsat

US Imposes Sanctions on Key Actors in Iran’s Ballistic Missile Program

The United States on Wednesday imposed sanctions on an Iran-based man and his network of companies it accused of helping Tehran obtain materials for its ballistic missile program, acting after missile attacks by suspected Iranian-backed proxies on countries in the region. In a statement issued as talks on reviving the…

Asharq Al-Awsat

Saudi Entities Coordinate to Facilitate Issuing 'Entrepreneurship' Licenses in the Kingdom

Saudi Minister of Investment Khalid al-Falih announced that visiting Saudi Arabia in 2030 will be an opportunity for work, stability, investment, and future building. Falih indicated that the economic development in the Kingdom would lead to the development of the entire region, noting that Ministries of Investment and Commerce are…

Tribune News Service

Saudi-led coalition strikes Yemen after Aramco depot attack

A Saudi-led coalition fighting Houthi rebels in Yemen launched airstrikes against sites in the southern Arabian country in response to multiple attacks Friday, including one that caused a fire at an Aramco fuel depot in Jeddah.

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