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by Haitham EL-TABEI Agence France Presse RIYADH, Saudi Arabia (AFP) — Energy giant Saudi Aramco said Sunday its 2021 net profit soared by more than 120 percent, due to higher crude prices, as global economic growth recovered from a pandemic induced downturn. The announcement came hours after Yemen’s Huthi rebels — against whom Saudi Arabia leads a military coalition — targeted several locations, including Aramco facilities, in cross-border armed drone attacks. Aramco, Saudi Arabia’s […]
RIYADH, Saudi Arabia (AFP) — Saudi energy giant Aramco’s shares rose to a record high on Wednesday amid a surge in global oil prices following Russia’s invasion of Ukraine. Aramco’s stock was trading at 42.9 Saudi riyals ($11.4) in Riyadh, according to the Saudi Tadawul market website. The Gulf kingdom — the world’s top crude exporter — has remained the firm’s majority shareholder since a December 11, 2019 listing. © Agence France-Presse
RIYADH, Saudi Arabia (AFP) — Energy giant Saudi Aramco on Tuesday posted a 30 percent jump in first quarter profits, in a sign of recovery from last year’s oil market crash fuelled by the coronavirus pandemic. Aramco said its net profit rose to $21.7 billion in the first three months of the year, compared to $16.7 billion in the same quarter of 2020, owing to a stronger oil market and higher refining and chemicals margins. […]
RIYADH, Saudi Arabia (AFP) — A drone struck a Saudi oil port and a ballistic missile targeted facilities of energy giant Aramco in the country’s east on Sunday, the energy ministry said. “One of the petroleum tank areas at the Ras Tanura Port in the Eastern Region, one of the largest oil ports in the world, was attacked this morning by a drone, coming from the sea,” the ministry said in a statement released by […]
RIYADH, Saudi Arabia (AFP) — Energy giant Saudi Aramco on Tuesday reported a 25 percent slump in first-quarter net profits due to low oil prices, saying the coronavirus crisis will dampen demand and full-year earnings. The world’s largest listed firm posted a net profit of 62.5 billion riyals ($16.66 billion) in the three months to March, compared to $22.2 billion a year earlier. The company said the drop in earnings mostly reflected a decline in […]
by Anuj Chopra with Omar Hasan in Dubai RIYADH, Saudi Arabia (AFP) — Saudi Aramco reported Sunday a 20.6 percent drop in 2019 net profit due to lower crude prices and production levels, in its first earnings announcement as a listed company amid an escalating price war. The world’s most valuable firm also announced it was slashing its capital expenditure for this year, as the price war with Russia and the spreading coronavirus pandemic rattle […]
by Anuj Chopra with Luc Olinga in New York RIYADH, Saudi Arabia (AFP) — Saudi Aramco on Thursday priced its long-awaited IPO at the high end of the target range, raising $25.6 billion and giving the energy giant a valuation of $1.7 trillion in the world’s biggest stock sale. Aramco priced its initial public offering at 32 riyals ($8.53) per share, surpassing the $25 billion raised by Chinese retail giant Alibaba when it debuted on […]
RIYADH, Saudi Arabia (AFP) — Saudi oil giant Aramco said on Friday that applications from private investors for its planned stock market offering had been oversubscribed. The much-delayed initial public offering, first announced in 2016, is a cornerstone of Saudi Crown Prince Mohammed bin Salman’s ambitious plan to diversify the Gulf state’s oil-reliant economy. The IPO could exceed the world’s biggest to date — the $25 billion float of Chinese retail giant Alibaba in 2014. […]
RIYADH, Saudi Arabia (AFP) — Energy giant Saudi Aramco, the world’s largest company, has lifted the lid on its secretive operations in a prospectus ahead of a highly anticipated listing on the Riyadh stock exchange. As a legal requirement for its initial public offering, expected to be the world’s biggest, Aramco has published major risks and strengths that could impact the company’s operations. Here are the factors that the energy Goliath said investors must take […]
by Anuj Chopra DHAHRAN, Saudi Arabia (AFP) — Saudi Arabia on Sunday announced the stock market debut of energy giant Aramco, in what could be the world’s biggest IPO, underpinning Crown Prince Mohammed bin Salman’s ambitions to overhaul the kingdom’s oil-reliant economy. After years of delay, Aramco said it plans to sell an unspecified number of shares on the Riyadh stock exchange, calling it a “historic” milestone for the world’s most profitable company which pumps […]
by Anuj Chopra RIYADH, Saudi Arabia (AFP) — Saudi energy giant Aramco is battling to reassure markets after devastating attacks on two oil plants, where a prolonged shutdown risks roiling investor confidence ahead of the state-owned giant’s mega stock listing, analysts say. A wave of drones struck Abqaiq –- the world’s largest oil processing facility –- and the Khurais oil field in eastern Saudi Arabia, knocking out nearly half of the kingdom’s crude production and […]
Saudi Crown Prince Mohammed bin Salman met China’s President Xi Jinping on Friday and bagged a $10-billion oil deal, pressing on with his diplomatic charm offensive in Asia following a global outcry over the Khashoggi killing. Mohammed arrived in Beijing on Thursday following visits to Pakistan and India, showing the world that his country still has allies after the grisly murder of Saudi journalist Jamal Khashoggi at the kingdom’s Istanbul consulate. “China is a good […]
