Domestic demands and Aramco’s IPO
Saudi Arabia is pushing ahead with the much-watched IPO of the mainstay of its economy, Aramco, although with somewhat diminished aspirations.
Aramco
Major energy exports event back in Aberdeen for second edition in 2020
A major energy sector conference which debuted in Aberdeen this year will return for a second installment in 2020.
Sempra, Mitsui sketch out LNG extension
Sempra Energy has signed a memorandum of understanding (MoU) on Mitsui & Co. potentially entering LNG projects in the US and Mexico.
Demand overshadows risks
Oil price predictions always end in disaster but complacency in the market poses a number of risks, given global uncertainty.
Fitch cuts Aramco’s rating
Fitch Ratings has cut Saudi Aramco’s rating to A from A+, following its downgrade of Saudi Arabia.
Oil price rises due to Gulf tensions and Saudi supply doubts
Oil resumed gains as tension between the U.S. and Iran ratcheted up following the attacks on Saudi Arabia, while doubts remained over how fast the kingdom would be able restore lost output.
Aramco to face weeks without majority of Abqaiq’s oil output
Saudi Aramco is growing less optimistic that there will be a rapid recovery in oil production from the weekend’s attack and now faces weeks or months before the majority of output is restored at the giant Abqaiq processing plant.
Majors on the wrong track for emission action
The largest listed oil and gas producers are moving in the wrong direction, according to a new report from Redburn, “Lost in Transition”.
Battle for Aramco IPO heats up as exchanges vie for supremacy
The largest global stock exchanges have restarted efforts to court Saudi Aramco as the battle to host the world’s biggest-ever initial public offering heats up again, people with knowledge of the matter said.
Reliance, Aramco talks on refinery stake sale ‘stall’
Indian billionaire Mukesh Ambani’s Reliance Industries Ltd.’s talks to sell a minority stake in its refinery business to Saudi Arabian Oil Co. have stalled on differences over the deal’s structure, people with knowledge of the matter said.
Ineos to splash £1.6bn on Saudi plants
Chemicals and plastics giant Ineos is set to spend two billion US dollars (£1.6 billion) on building three manufacturing plants in the Middle East for the first time.
20 energy majors to grace inaugural Energy Exports Conference
Majors including Aramco, BP, Ørsted and Shell will talk about US$150bn of global projects requiring UK products and services
Aramco unveils financial secrets of world’s most profitable firm
The first official glimpse of Saudi Aramco’s financial performance confirms the state-run oil giant can generate profit like no other company on Earth: net income last year was $111.1 billion, easily outstripping U.S. behemoths including Apple Inc. and Exxon Mobil Corp.
Uncomfortable truths creep in at oil industry’s big summit
Right from the start of London’s biggest gathering of oil traders and producers, uncomfortable truths began to intrude upon the usual round of business meetings and cocktail parties.
Saipem bags Aramco contracts worth £1bn
Saipem has been awarded two contracts worth £1 billion by Saudi Aramco.
Wood bags new Saudi Aramco contract
Oil service firm Wood has secured a five-year contract to help deliver one of Saudi Aramco's mega-projects.
Aramco seeks $2bn from Japan’s export agency
Saudi Arabian Oil Co. is seeking a $2 billion loan from Japan’s export-credit agency, three people with knowledge of the matter said, as competition for a role in potentially the world’s largest initial share offering heats up.
Aramco sees oil market balanced as U.A.E. downplays shale
Global crude inventories are declining and supply and demand are in balance, according to the head of Saudi Aramco, while the United Arab Emirates energy minister said U.S. shale oil doesn’t threaten OPEC’s efforts to support the market.
London’s Aramco flotation push must not compromise standards, MPs warn
Efforts to attract Saudi Aramco to choose London for an expected £1.5trillion flotation must not compromise the UK’s “highly regarded” corporate governance standards, MPs have warned.
Aramco said to seek advisers for world’s biggest share sale
Saudi Arabian Oil Co. is asking banks including Goldman Sachs Group Inc. and HSBC Holdings Plc to pitch for an advisory role on its initial public offering as it pushes ahead with plans for the world’s largest share sale, three people with knowledge of the matter said.
Saudi energy minister sees oil market supply and demand “almost balancing”
Oil markets are improving as supply and demand are seen to be almost balancing, according to Saudi Arabia's energy minister.
Saudi electricity plans two solar plants in first global tender
Saudi Arabia’s state electricity utility is seeking bids from international developers to build two solar-power plants in the kingdom’s northern region.
Saudis approve reform plan to reduce reliance on oil
Saudi Arabia’s Cabinet has approved a plan laying out economic reform priorities for the next 15 years which are aimed at moving the kingdom away from its reliance on fossil fuels.
Saudis unbowed by oil crash with no spending cut before IPO
The world’s biggest oil producer is spending as much now as it did before the crash in crude prices, signaling no surrender in Saudi Arabia’s battle with rivals.
Saudi Arabia plans for IPO in coming months
Saudi Arabia is said to be reviewing an IPO (Initial Public offering) with a decision expected to take place in the coming months.