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UNBELIEVABLE: 5 - Caught on Camera

Aramco JV HAPCO to Commence Construction of Major Refinery, Petrochemical Complex in China

Saudi Aramco and joint venture partners NORINCO Group and Panjin Xincheng Industrial Group plan to start construction of a major integrated refinery and petrochemical complex in northeast China, Aramco said in a statement on Sunday. Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco (30%), NORINCO Group (51%) and…

Asharq Al-Awsat

Aramco, DHL Announce End-to-End Procurement and Logistics Hub Joint Venture

Saudi Aramco and DHL Supply Chain have signed a shareholders’ agreement for a new Procurement and Logistics Hub in Saudi Arabia, to enhance supply chain efficiency and sustainability, Aramco said in a statement on Monday. According to Aramco, it would be the region’s first such hub catering to customers in…

Asharq Al-Awsat

Morning Mail: ACBF-Youpla victims wait for compensation, Oscar goodie bag gift prompts questions

Record profit for Saudi Aramco, Gary Lineker row deepens, Oscars coverage kicks off

The Guardian - AU

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Saudi Aramco’s $161bn profit is largest recorded by an oil and gas firm

Amnesty International hits out at ‘shocking’ annual figure reaped through sale of fossil fuel

The Guardian - UK

Four takeaways as oil giant Saudi Aramco reports a huge $161 billion profit

The world's biggest oil company has announced it made $161 billion in profits in 2022, a whopping figure for the corporation and its main shareholder, the Saudi government.

WEKU

Saudi Aramco reports 'record' $161 billion profit for 2022

RIYADH - Saudi Aramco said on Sunday it achieved "record" profits totalling $161.1 billion last year, drawing an outraged response from activists warning about the ravages of climate change.

Bangkok Post

Saudi Aramco Reports ‘Record’ $161 Billion Profit for 2022

Saudi Aramco said on Sunday it achieved "record" profits totalling $161.1 billion last year, its highest annual profits as a listed company. In a statement announcing 2022 results, Aramco said the achievements were "underpinned by stronger crude oil prices, higher volumes sold and improved margins for refined products, while the…

Asharq Al-Awsat

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Oil giant Saudi Aramco announces $US161 billion profit

Saudi Aramco has announced it earned a $US161 billion ($245 billion) profit last year, with higher crude oil prices propelling profits.

The New Daily

Oil giant Saudi Aramco has profits of $161B in 2022

Oil giant Saudi Aramco says it earned a $161 billion profit last year

The Independent UK

Seoul Seeks Aramco’s Help to Win Contracts of Saudi Giga Projects

South Korea's government intends to make its firms enter the Saudi market and win contracts to construct $500 billion worth of projects to develop smart and eco-friendly cities in NEOM, in the northwest of the Kingdom. The Export-Import Bank of Korea has announced the signing of a $6 billion framework…

Asharq Al-Awsat

Saudi Arabia to invest in French-Chinese car joint venture

Oil giant Saudi Aramco is preparing to join carmakers Geely and Renault in a new joint venture in hybrid and internal-combustion vehicles.

Radio France Internationale

Saudi Aramco Acquires Valvoline Inc. Global Products Business

The Saudi Arabian Oil Company (Aramco) has completed the acquisition of the Valvoline Inc. global products business (Valvoline Global Operations) for $2.65 billion, through one of its wholly-owned subsidiaries. With this acquisition, which follows the signing of an equity purchase agreement by the companies announced on Aug. 1, 2022, Aramco…

Asharq Al-Awsat

Aramco Inks Pact with Renault, Geely for Engine Venture

Saudi Aramco has agreed to take a minority stake in a new powertrain engine company that French car maker Renault SA and China's Geely Automobile Holdings Ltd plan to set up jointly, they said on Thursday. The new joint venture is aimed at developing more-efficient gasoline engines and hybrid systems.…

Asharq Al-Awsat

SABIC CEO to Asharq Al-Awsat: We Expect Improvement in Demand for Petrochemicals in 2nd Half of 2023

Energy prices caused the profit margins of the Saudi Basic Industries Corporation (SABIC) - the world’s largest petrochemical producer - to decline by 28 percent in 2022. SABIC acting CEO Abdulrahman Al-Fageeh told Asharq Al-Awsat that the company was optimistic about the quality and reliability of the factories, expecting that…

Asharq Al-Awsat

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Zenger

Elon Musk Expects Tesla To Be Worth More Than Saudi Aramco & Apple Combined By 2030

Billionaire investor Ron Baron's bet on Tesla Inc is more of a bet on the man behind the wheel: Elon Musk

Asharq Al-Awsat

Saudi-Korean Partnership to Finance Jafurah Gas Field

Saudi Arabia’s Riyad Bank signed a project financing agreement with the Export-Import Bank of Korea to develop the power station project in the al-Jafurah gas field. In 2020, Saudi Aramco that it had obtained approval to develop the Jafurah unconventional gas field in the Eastern Province, the largest non-associated gas…

Asharq Al-Awsat

Saudi Aramco Acquires Largest Oil Refinery in North America

Saudi Aramco’s global trading arm has bought US firm Motiva Trading as it seeks to expand its footprint across North and South America. As well as acquiring 100 percent of the firm, Aramco Trading Co.

Asharq Al-Awsat

Royal Saudi Navy Concludes 'Tasaddi 5' Drill

The Royal Saudi Naval Forces, represented by the Eastern Fleet, concluded the joint naval exercise “Tasaddi 5.” The Interior Ministry, represented by border guards in the Eastern Province, and the Energy Ministry, represented by Saudi Aramco and Aramco Gulf Operations, participated in the drills. The five-day drill kicked off at…

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Asharq Al-Awsat

Saudi Arabia, China to Implement Refining and Petrochemical Projects

Saudi Arabia and China intend to explore cooperation opportunities in refining and petrochemical projects after the significant energy companies signed memorandums of understanding (MoU) to implement several projects. Saudi Aramco, Chinese Petroleum and Chemical Corporation (Sinopec), and SABIC are exploring cooperation opportunities in refining and petrochemical projects in China and…

Asharq Al-Awsat

Saudi Arabia Exports World’s First Commercial Shipment of Blue Ammonia to S. Korea

Saudi Arabia delivered on Wednesday the world’s first commercial shipment of certified clean blue ammonia to South Korea. SABIC Agri-Nutrients and Saudi Aramco sent the shipment to South Korea’s Lotte Fine Chemicals. It is considered a new milestone in the development of carbon neutral solutions since blue ammonia is a…

Asharq Al-Awsat

Saudi Arabia Plans Exploitation of One of Largest Gas Fields in the World

Saudi Aramco is intending to fund the development of the Jafurah gas field, one of the largest in the world, at a cost of $110 billion. Planned to start production in 2025, the field is expected to have approximately two billion standard cubic feet per day of sales by 2030,…

Asharq Al-Awsat

Saudi Arabia, Kuwait sign MoU to Develop Durra Gas Field

Saudi Aramco’s wholly-owned subsidiary Aramco Gulf Operations Company signed on Saturday a memorandum of understanding (MoU) with state-owned Kuwait Gulf Oil Company (KGOC) to develop the joint Durra gas field. Kuwait’s Deputy Prime Minister and Minister of Oil Badr al-Mulla and Saudi Minister of Energy Prince Abdulaziz bin Salman attended…

Asharq Al-Awsat

Aramco, Shandong Energy Collaborate on Downstream Projects in China

Saudi Aramco and Shandong Energy Group are exploring collaboration on integrated refining and petrochemical opportunities in China, the Saudi Arabian Oil Company said in a statement on Friday. The companies have signed a Memorandum of Understanding (MoU) which includes a potential crude oil supply agreement and chemicals products offtake agreement,…

Reuters

Factbox-Saudi-China energy, trade and investment ties

Saudi Arabia and China signed a series of agreements during President Xi Jinping's visit to the kingdom, demonstrating deepening ties between the two countries that Riyadh's traditional ally the United States is warily watching.

Asharq Al-Awsat

Saudi Aramco’s Luberef Expects to Raise up to $1.32 Bln from IPO

Saudi oil giant Aramco's base oil subsidiary Luberef expects to raise up to 4.95 billion riyals ($1.32 billion) from its initial public offering, it said, if it prices at the top of a range announced on Sunday. Luberef will sell nearly 30% of the company's issued share capital, or 50.045…

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