PIF deal cuts risk for ADES of contract renegotiations
Saudi Arabia’s purchase of ADES International reduces the risk that the company’s contracts be cancelled or renegotiated, Fitch Ratings has said.
Saudi Aramco
Petrofac ‘cut off from key markets’ after Adnoc suspension
Petrofac has been cut off from three of its “largest and most promising” oil markets globally after being suspended from Adnoc tenders, according to new analysis.
Aramco’s $75 billion dividend survives oil and earnings rout
Saudi Aramco’s $75 billion dividend survived one of the biggest disruptions to oil markets in decades as the coronavirus pandemic and a price war sent crude prices tumbling.
Lamprell wins Saudi work at Marjan
Lamprell has won an engineering, procurement, construction and installation (EPCI) contract from Saudi Aramco on the Marjan field.
Kentech strikes deal to buy SNC-Lavalin’s oil and gas business
Energy services firm Kentech has struck a deal to buy Canadian engineering company SNC-Lavalin’s oil and gas division.
NOC spending plans at risk from climate goals
Investments by the world’s NOCs are incompatible with limiting climate change, according to new research published by the Natural Resource Governance Institute (NRGI).
Aramco employee killed in Nigeria
Unidentified gunmen have killed a Saudi Aramco employee in his home, in Nigeria.
Aramco signs up enterprise planning with SAP
Saudi Aramco has signed a strategic alliance with SAP, following a number of digital deals signed recently.
Aramco, Baker Hughes launch non-metallic construction
Aramco and Baker Hughes have begun construction on a non-metallic joint venture, at the King Salman Energy Park (SPARK).
Aramco’s Nasser talks up low-carbon oil
Saudi Aramco sees a recovery for oil demand in the second half of 2021 and, in the longer term, hydrocarbons will continue to compete with energy transition options.
Aramco signs technology MoUs
Saudi Aramco has signed new international technology deals, with local content playing a major role.
Saudi acknowledges Jeddah missile attack
Saudi Arabia has confirmed a missile attack on a fuel tank in the city of Jeddah, claimed by Houthi rebels in Yemen.
Aramco awards long-term work to eight
Saudi Aramco has announced the award of long-term agreements (LTAs) with eight companies, focused on brownfield and plant upgrades.
Fitch cuts Saudi, Aramco and Sabic outlook
Fitch has cut the outlook of Saudi Arabia, Aramco and Sabic to negative on concerns of the sovereign’s weakening balance sheet.
Big oil has a long way to go on setting emissions targets
Just five of the 39 largest oil and gas companies have announced carbon-reduction targets that match levels needed to avoid a 2-degree Celsius temperature increase. And only 20 have taken initial steps to disclose how they plan to lower emissions produced by both their operations and electricity use, known respectively as Scope 1 and Scope 2.
Aramco earnings slide 44%
Saudi Aramco’s pre-tax income fell 44% in the third quarter, to $24.7 billion from $44.07bn.
Lamprell, ADES win Saudi contracts
Lamprell and ADES International have announced new contracts in Saudi Arabia.
Oil companies’ climate targets not what they seem
Two years ago, a group of the world’s largest oil companies announced a major commitment to fight climate change, promising to reduce methane emissions from their operations by 20 percent within seven years.
Aramco, Sabic to reassess $20bn crude-to-chemicals project
Saudi Aramco and Saudi Basic Industries Corp. will re-evaluate the scope of a planned crude-to-chemicals project in the kingdom as they seek to reduce spending amid a slump in prices for their products.
Aramco despatches blue ammonia to Japan
Saudi Aramco has sent 40 tonnes of blue ammonia to Japan, for use in zero-carbon power generation.
Aramco shelves $20 billion petrochemical plan after oil’s crash
Saudi Aramco is shelving multi-billion-dollar petrochemical and gas projects as the state oil giant’s determination to preserve its dividend despite a crash in energy prices forces it to cut back on major investments.
Saudi Aramco appoints new CEO for $500m investment arm
Saudi Aramco appointed a new chief executive officer to run its $500 million venture capital and investments arm after the previous head departed, according to people with knowledge of the situation.
Aramco reshuffles management team
Saudi Aramco reshuffled top management jobs, appointing an acting head for the upstream business, as the world’s biggest oil producer cuts spending to cope with low oil prices.
Aramco plans huge spending cut for 2021
Saudi Arabia’s state oil company plans to cut capital expenditure to $25 billion or less next year, about half the amount it was originally planning, according to people familiar with the matter.
Aramco feels the squeeze
No company has been immune from the headwinds facing the global oil industry, even Saudi Aramco.