THE TRUTH ABOUT: 12 - Caught on Camera

Global Consortium Acquires 49% of Aramco

Saudi Aramco announced that an international investor consortium, led by affiliates of BlackRock and Hassana, acquired a 49 percent stake in Aramco Gas Pipelines Company, a subsidiary of Aramco, for $15.5 billion. The consortium comprises leading institutional investors, including, amongst others, Keppel Infrastructure Trust, Silk Road Fund, and China Merchants…

Asharq Al-Awsat · Feb 24, 2022

Saudi Aramco Shares Soar Over 4%

Shares in Saudi Aramco soared over 4 percent to an all-time closing high in Monday’s trading session on the Saudi stock exchange. Saudi Aramco rose 4.1 percent to a record closing high of 39.25 riyals ($10.4). Its market cap exceeded 7.8 trillion riyals ($2.1 trillion). Last week, Crown Prince Mohammed…

Asharq Al-Awsat · Feb 22, 2022

Saudi Aramco in Talks on More Investments in China

Oil giant Saudi Aramco is in talks with partners in China about further investments in the country, CEO Amin Nasser said on Monday. "China is an important part of Aramco's base," Nasser told reporters on the sidelines of a conference in Saudi Arabia. "And we are currently in discussions with…

Asharq Al-Awsat · Feb 21, 2022

Saudi Aramco Buys 7.4% Stake in Norwegian Software Firm Cognite

Saudi Aramco has bought a 7.4% stake in Norwegian industrial software group Cognite from oil firm Aker BP, Cognite said on Wednesday. The price for the stake was "around 1 billion Norwegian crowns," or about $113 million, an Aker BP spokesperson told Reuters, valuing Cognite at just over $1.5 billion.…

Asharq Al-Awsat · Feb 2, 2022

Aramco CEO Says Energy Transition ‘Not Going Smoothly’

Saudi Aramco Chief Executive Amin Nasser said on Thursday that investment in oil and gas was needed to run alongside new energy investments until the latter can realistically support rising consumption. “We all agree that to move towards a sustainable energy future, a smooth energy transition is absolutely essential, but…

Asharq Al-Awsat · Jan 28, 2022

Saudi Joint Team to Ensure Implementation of Industrial, Energy Projects

Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef revealed that the Ministry of Energy and Saudi Aramco are working closely to create a joint team and ensure that related projects are progressing appropriately, including those of the “In Kingdom Total Value Add” (IKTVA) program for the supply sector.…

Asharq Al-Awsat · Jan 26, 2022

Abu Dhabi’s ADNOC Forms Unit to Issue Debt, Explore Funding

Abu Dhabi National Oil Co (ADNOC) has set up a subsidiary, ADNOC Murban, to issue primary debt and explore new funding opportunities. ADNOC Murban will become the primary debt capital markets issuing and rating entity for the ADNOC Group, the Abu Dhabi state oil giant said in a statement. Named…

Asharq Al-Awsat · Jan 25, 2022

Aramco Says Oil Demand is Nearing Pre-COVID Levels

Saudi Aramco said oil demand is nearing pre-COVID levels and reiterated that producers globally are investing too little in supply. "We are getting very close to pre-pandemic levels," CEO Amin Nasser according to Bloomberg.

Asharq Al-Awsat · Jan 25, 2022

Special Saudi Committee Aims to Support Localization of Energy Sector

Saudi Minister of Energy Prince Abdulaziz bin Salman revealed the imminent formation of a committee to localize the energy sector in the country under the umbrella of the Supreme Committee for Energy Mix Affairs for Electricity Production and Enabling Renewable Energy Sector, with the aim to achieve greater cohesion and…

Asharq Al-Awsat · Jan 25, 2022

IKTVA Forum Kicks Off to Discuss Developing Energy Supply Chain Sector in Saudi Arabia

The In-Kingdom Total Value Add (IKTVA 2022) has kicked off on Monday, highlighting the oil giant’s role in boosting local opportunities in Saudi Arabia. Saudi Aramco organized the three-day event, held at the Dhahran Expo Center in the Kingdom’s Eastern Province, to allow business partners to meet and discuss the…

Asharq Al-Awsat · Jan 24, 2022