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#Saudi Aramco Follows Big Oil Rivals With Bumper Earnings - Bloomberg

Saudi Aramco Follows Big Oil Rivals With Bumper Earnings - Bloomberg Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments.The world’s biggest energy company kept its quarterly payout, almost all of which goes to the Saudi government, at $18.75 billion. The money is vital for the kingdom as it tries to narrow a budget deficit that ballooned last year, with the coronavirus pan...
Tags: Travel, Royal Dutch Shell Plc, BP Plc, Big Oil, Rupert Neil Bumfrey, Amin Nasser, Bloomberg Saudi Aramco


#Saudi Aramco beats quarterly profit forecast, maintains dividend | Reuters

Saudi Aramco beats quarterly profit forecast, maintains dividend | Reuters State-run oil producer Saudi Aramco (2222.SE) beat analysts' forecasts on Tuesday with a 30% rise in first-quarter net profit and maintained its dividend payout, helped by strong oil prices.Earnings by global energy companies such as Exxon Mobil (XOM.N) have climbed on the back of rising crude prices, which are up by about a third this year, as fuel demand recovers from the pandemic and as a global surplus of crude shri...
Tags: Travel, Exxon Mobil, Reuters, Aramco, Saudi Aramco, Reuters State, Rupert Neil Bumfrey, Amin Nasser


Aramco Selling $12.4 Billion Stake in Pipeline Rights Unit - Bloomberg

Aramco Selling $12.4 Billion Stake in Pipeline Rights Unit - BloombergInvestors led by EIG Global Energy Partners LLC agreed to acquire a roughly $12.4 billion stake in a Saudi Aramco oil-pipeline rights company.The group will acquire a 49% equity stake in Aramco Oil Pipelines Co., a newly formed entity with rights to 25 years of rate payments for oil shipped through the Saudi oil giant’s network of conduits, EIG said in a statement. The deal implies a total equity value of about $25 billion for...
Tags: Travel, Washington, Saudi Arabia, Apple Inc, Aramco, Saudi Aramco, Microsoft Corp, EIG, Rupert Neil Bumfrey, Amin Nasser, EIG Global Energy Partners LLC, Pipeline Rights Unit Bloomberg, Aramco Oil Pipelines Co, Robert Blair Thomas


#Saudi Aramco to prioritise energy supply to China for 50 years, says CEO | Reuters

Saudi Aramco to prioritise energy supply to China for 50 years, says CEO | ReutersSaudi Aramco will ensure China’s energy security remains its highest priority for the next 50 years and beyond as new and existing energy sources run in parallel for some time, CEO Amin Nasser told the China Development Forum on Sunday.Saudi Arabia, the world’s biggest oil exporter, retained its position as China’s top supplier in the first two months this year, with volumes up 2.1% to 1.86 million barrels per day ...
Tags: Travel, Saudi Arabia, China, Russia, Reuters, Saudi Aramco, Organization of the Petroleum Exporting Countries, Nasser, Rupert Neil Bumfrey, China Development Forum, Amin Nasser, ReutersSaudi Aramco


#Saudi oil giant Aramco to scale back spending after 2020 profit slump | Reuters

Saudi oil giant Aramco to scale back spending after 2020 profit slump | Reuters Saudi Arabian state oil giant Aramco is betting on an Asian-led rebound in energy demand this year after it reported a steep slide in net profit for 2020 on Sunday and scaled back its spending plans.The COVID-19 pandemic took a heavy toll on the company and its global peers in 2020, but oil prices have rallied this year as economies recover from last year’s downturn and after oil producers extended output cuts.“We ar...
Tags: Travel, Europe, China, United States, Reuters, Aramco, Tadawul, Rupert Neil Bumfrey, Amin Nasser, Asia East Asia


How Much Does Aramco Pollute? Missing Emissions Might Double Carbon Footprint - Bloomberg

How Much Does Aramco Pollute? Missing Emissions Might Double Carbon Footprint - Bloomberg Before it launched the world’s biggest public listing, Saudi Arabian Oil Co. promised potential investors a small piece of a trillion-dollar company with access to unrivaled oil reserves. Not just in sheer volume but in climate friendliness, too.Aramco executives emphasized in the run-up to an IPO in 2019 that drilling Saudi oil generates fewer planet-warming emissions than other producers. “Not because our...
Tags: Travel, Bloomberg, Portugal, Aramco, Saudi Arabian Oil Co, Rupert Neil Bumfrey, General Investment Management, Amin Nasser, Nick Stansbury, Bloomberg Green Including


How #Saudi Aramco IPO proved a game changer in a tumultuous year for oil

How Saudi Aramco IPO proved a game changer in a tumultuous year for oil In a masterpiece of understatement, Amin Nasser summed up 2020 at a recent awards ceremony. “This year has been challenging,” the president and chief executive of Saudi Aramco told journalists.Prospects looked very different just over a year ago, when Aramco made its debut on the Tadawul stock exchange in Riyadh in the world’s biggest initial public offering (IPO), becoming the world’s most valuable company in the process.Ha...
Tags: Travel, Ipo, Riyadh, Aramco, Saudi Aramco, Tadawul, Nasser, Rupert Neil Bumfrey, Amin Nasser


‘The worst is behind us’: #Saudi Aramco CEO | ZAWYA MENA Edition

‘The worst is behind us’: Saudi Aramco CEO | ZAWYA MENA Edition The oil industry is recovering from the impact of the coronavirus pandemic and “the worst is behind us,” Saudi Aramco’s President and CEO, Amin Nasser, told an award ceremony in Riyadh on Thursday.“April was by far the worst month for our industry when oil demand fell. Such a massive drop was never seen at any time in the industry. But I believe the worst is behind us. At this moment there is a recovery taking place,” Nasser said...
Tags: Travel, Riyadh, Aramco, Saudi Aramco, Nasser, Rupert Neil Bumfrey, Amin Nasser


Major Gulf markets rise as Aramco lifts #Saudi index | Reuters

Major Gulf markets rise as Aramco lifts Saudi index | Reuters Saudi Arabia’s stock market rose in early trade on Tuesday, supported by gains in Saudi Aramco after the oil giant posted a quarterly profit slump in line with analysts’ estimate, while the Qatari index was on track to end three sessions of losses.The kingdom's benchmark index .TASI edged up 0.2%, with the world's top oil producing company Saudi Aramco 2222.SE rising 0.6% after Chief Executive Officer Amin Nasser pointed to early sign...
Tags: Travel, Qatar, Dubai, Abu Dhabi, Reuters, Aramco, Reuters Saudi Arabia, Noor Bank, Tasi, Rupert Neil Bumfrey, QSI, Amin Nasser, First Abu Dhabi Bank, Major Gulf, Etisalat ETISALAT, Industries Qatar IQCD


#Saudi Aramco third-quarter profit slumps 44.6% as pandemic chokes demand | Reuters

Saudi Aramco third-quarter profit slumps 44.6% as pandemic chokes demand | Reuters Saudi Arabian state oil giant Aramco 2222.SE on Tuesday reported a 44.6% drop in third-quarter net profit as the coronavirus crisis continued to choke demand and weigh on crude prices.Share prices of global oil companies have been hammered this year as investors fret over the impact of the pandemic on energy demand and the long-term shift away from fossil fuels.Oil prices have recovered only slightly since tumblin...
Tags: Travel, Shell, Chevron, Exxon, Reuters, Aramco, Saudi Aramco, BP Plc, Rupert Neil Bumfrey, Amin Nasser, Refinitiv


#Saudi Aramco CEO says 'the worst is behind us' for oil | Reuters

Saudi Aramco CEO says 'the worst is behind us' for oil | Reuters: Amin H. Nasser, president and CEO of Saudi Aramco, speaks during the International Carbon Capture, Utilization and Storage Conference 2020 in Riyadh, Saudi Arabia February 25, 2020. REUTERS/Ahmed Yosri/File Photo Saudi Aramco Chief Executive Amin Nasser said on Tuesday that “the worst is definitely behind us” for the oil market, as global oil demand is recovering and is currently at 90 million barrels per day.Nass...
Tags: Travel, China, Reuters, Saudi Aramco, Riyadh Saudi Arabia, Nasser, Rupert Neil Bumfrey, Amin Nasser, Amin H Nasser


COLUMN- #Saudi Aramco sees Asian crude oil demand recovering. But is it?: Russell - Reuters

COLUMN-Saudi Aramco sees Asian crude oil demand recovering. But is it?: Russell - Reuters:Saudi Aramco sees a recovery in global oil demand, a view that would justify the paltry reduction in the price the world’s biggest crude exporter will charge refiners in Asia for cargoes loading in September. Customers probably have a different view.Aramco Chief Executive Amin Nasser told reporters on Aug. 9 that demand was recovering as countries try to restart economies after lockdowns aimed at curbing th...
Tags: Travel, Asia, China, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Amin Nasser, Russell Reuters


MIDEAST STOCKS- #AbuDhabi index leads major Gulf markets higher - Reuters

MIDEAST STOCKS-Abu Dhabi index leads major Gulf markets higher - Reuters:Major stock markets in the Gulf rose in early trade on Tuesday, with the Abu Dhabi index boosted by gains in International Holding’s shares following a sharp rise in its second-quarter profit.Saudi Arabia’s benchmark index was up 0.2%, with Al Rajhi Bank rising 0.7% and oil giant Saudi Aramco increasing 0.3%.Aramco is moving ahead with plans to boost crude output capacity by 1 million barrels per day (bpd) to 13 million bpd...
Tags: Travel, Saudi Arabia, Abu Dhabi, Gulf, Reuters, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Al Rajhi Bank, Amin Nasser, International Holding, Jarir Marketing Company


#Saudi Aramco to press ahead with plan to boost output capacity, CEO says - Reuters

Saudi Aramco to press ahead with plan to boost output capacity, CEO says - Reuters:Saudi Aramco (2222.SE) is moving ahead with plans to boost crude output capacity by 1 million barrels per day (bpd) to 13 million bpd despite cuts in capital expenditure this year and next year, the state oil group’s CEO said on Monday.Aramco’s capital spending plan for 2021 will be “significantly lower than previous guidance,” CEO Amin Nasser also said on a call with analysts and investors after the company’s sec...
Tags: Travel, Reuters, Saudi Aramco, Nasser, Rupert Neil Bumfrey, Amin Nasser, Monday Aramco


Aramco’s dividend defences are triple-locked – Breakingviews

Aramco’s dividend defences are triple-locked – Breakingviews: Saudi Aramco has deployed its triple-bottomed dividend defences sooner than expected. The Saudi state energy giant is handing $18.75 billion to investors this quarter even though earnings plunged to little more than a third of that amount. It’s a contrast with rivals BP and Royal Dutch Shell, which both trimmed their payouts. But even if crude demand plunges again, the $1.8 trillion firm has multiple ways of ensuring rewards for shar...
Tags: Travel, China, Royal Dutch Shell, Goldman Sachs, Bp, Aramco, Saudi Aramco, Nasser, Rupert Neil Bumfrey, Saudi Basic Industries, Amin Nasser


Aramco Still Aims for $15 Billion Deal With India’s Reliance - Bloomberg

Aramco Still Aims for $15 Billion Deal With India’s Reliance - Bloomberg:Saudi Aramco said it’s still working on a deal to buy a $15 billion stake in Reliance Industries Ltd.’s refining and chemicals business, even as lower oil prices forces it to slash investment spending.Mumbai-based Reliance’s shares fell in mid-July after Chairman Mukesh Ambani said a transaction had been delayed “due to unforeseen circumstances in the energy market and the Covid-19 situation.”A deal with Reliance would help...
Tags: Travel, India, Mumbai, Reliance, Aramco, Saudi Aramco, State, Reliance Industries Ltd, Saudi Basic Industries Corp, Mukesh Ambani, Rupert Neil Bumfrey, Amin Nasser, Reliance Bloomberg


MIDEAST STOCKS-Egypt outperforms Mideast markets; Aramco's Q2 profit slides - Reuters

MIDEAST STOCKS-Egypt outperforms Mideast markets; Aramco's Q2 profit slides - Reuters:The Egyptian bourse rose sharply onSunday, extending gains for a fifth straight session as most ofits constituents were in positive territory, while the Saudiindex ended higher helped by its financial shares.Saudi Arabia's benchmark index rose 0.4%, led by a0.8% gain in Al Rajhi Bank and a 1.5% increase inBanque Saudi Fransi.Elsewhere, state-owned oil company Saudi Aramcoadded 0.3% despite reporting a steep dec...
Tags: Travel, Saudi Arabia, Egypt, Reuters, Aramco, Mideast, Rupert Neil Bumfrey, Al Rajhi Bank, Amin Nasser, Saudi Aramcoadded


Oil Giant Aramco Sticks With Dividend Even as Profit Crashes - Bloomberg

Oil Giant Aramco Sticks With Dividend Even as Profit Crashes - Bloomberg:Saudi Arabia’s state-controlled oil giant pressed ahead with a plan to pay $75 billion in dividends this year despite crashing profit and a surge in debt, as the kingdom battles a widening budget deficit.Saudi Aramco, which Apple Inc. recently dethroned as the world’s most valuable listed company, said net income in the three months ending in June was 24.6 billion riyals ($6.6 billion), down 73% from a year earlier, accordi...
Tags: Travel, Saudi Arabia, Bloomberg, Apple Inc, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Amin Nasser


#Saudi Aramco's Dividend Math Doesn't Add Up Considering Oil Price - Bloomberg

Saudi Aramco's Dividend Math Doesn't Add Up Considering Oil Price - Bloomberg:It’s the mother of all payouts.The $75 billion that Saudi Aramco doles out in dividends every year dwarfs what any other listed company gives to shareholders. It’s roughly equivalent to the payouts from Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., BP Plc, Total SA, PetroChina Co., Eni SpA, Petroleo Brasiliero SA and China Petroleum & Chemical Corp. or Sinopec — put together.That makes Chief Executive Office...
Tags: Travel, Sinopec, Saudi Aramco, China Petroleum Chemical Corp, Rupert Neil Bumfrey, Amin Nasser


#Saudi Aramco CEO says to use cash, debt to pay dividends - Reuters

Aramco CEO says to use cash, debt to pay dividends - Reuters:Saudi Aramco will use a combination of cash and debt to pay its dividend of $18.75 billion for the first quarter of this year, the company’s chief executive said on Thursday.“It will be a combination of both,” Amin Nasser told reporters during a phone call, when asked whether Aramco would tap debt markets to cover the dividend or use its own cash.“We would like to use our free cash definitely most of time, but other debt instruments fr...
Tags: Travel, Reuters, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Amin Nasser


#Saudi Aramco completes $69 billion SABIC stake deal, extends schedule - Reuters

Saudi Aramco completes $69 billion SABIC stake deal, extends schedule - Reuters:Saudi Aramco (2222.SE) has completed its purchase of a 70% stake in petrochemicals company Saudi Basic Industries (SABIC) (2010.SE) for $69.1 billion and extended the payment period by three years to 2028, providing a cushion against weak oil prices. The deal values SABIC at 123.39 riyals per share, 27% above the company’s share price of 89.90 riyals, as the coronavirus outbreak has hurt demand for petrochemicals pro...
Tags: Travel, Reuters, Aramco, Saudi Aramco, SABIC, Rupert Neil Bumfrey, Saudi Basic Industries SABIC, Amin Nasser


Aramco well placed for timid oil recovery

Aramco well placed for timid oil recovery Saudi Aramco is the investment of choice for those who think the oil market is a glass half full. True, U.S. crude futures temporarily turned negative last month, and even after something of a recovery Brent still trades at just $30 a barrel. Even so, the Saudi Arabian oil giant’s first-quarter results suggest at least some players are well prepared. Chief Executive Amin Nasser is caught in a storm, but he’s at least in a big boat. While Aramco’s ear...
Tags: Travel, UK, Bp, Aramco, Saudi Aramco, Nasser, Rupert Neil Bumfrey, Amin Nasser


#Saudi Aramco to cut capital spending in 2020, posts drop in 2019 profit - Reuters

Saudi Aramco to cut capital spending in 2020, posts drop in 2019 profit - Reuters:Saudi Aramco 2222.SE on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, as it posted a 21% decline in 2019 net profit due to a drop in oil prices and production, its first earnings announcement as a listed company.The world’s most profitable company and by far its biggest oil producer, Aramco listed its shares in Riyadh in December in a record $29.4 billion initial public offer...
Tags: Travel, Ipo, Opec, Reuters, Riyadh, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Amin Nasser, Moscow Saudi Arabia


#SaudiArabia News: Aramco to Boost Oil Capacity to 13 Mln B/D - Bloomberg

Saudi Arabia News: Aramco to Boost Oil Capacity to 13 Mln B/D - Bloomberg:Saudi Arabia ordered state-run oil producer Aramco to boost the kingdom’s output capacity by 1 million barrels a day, the latest escalation in a battle for control of the global petroleum market.While delivering the extra capacity may take years and many billions of dollars in investment, the decision shows that Crown Prince Mohammed bin Salman has little intention of pulling back from his aggressive response to the breakd...
Tags: Travel, Saudi Arabia, Russia, Opec, Bloomberg, Mohammed, Aramco, Saudi Aramco, Mohammed bin Salman, Rupert Neil Bumfrey, Amin Nasser


#SaudiArabia, Russia raise stakes in oil standoff - Reuters

Saudi Arabia, Russia raise stakes in oil standoff - Reuters:Saudi Arabia will raise its crude supply to a record high in April, the kingdom announced on Tuesday, as it ratcheted up a standoff with Moscow over market share and appeared to reject Russian overtures for new talks.The clash of oil titans Saudi Arabia and Russia sparked a 25% slump in crude prices on Monday, triggering panic selling and heavy losses on Wall Street’s main stock indexes, already hit badly by the coronavirus outbreak.U.S...
Tags: Travel, Saudi Arabia, White House, Russia, Moscow, Donald Trump, Reuters, Mohammed bin Salman, Rupert Neil Bumfrey, Saudi Arabia Russia, Amin Nasser


#Saudi to hike April crude supply to 12.3 million bpd: Aramco CEO - Reuters

Saudi to hike April crude supply to 12.3 million bpd: Aramco CEO - Reuters:Saudi Aramco (2222.SE) will raise its crude supply, which includes oil to its customers inside the kingdom and abroad, to 12.3 million barrels per day (bpd) in April, CEO Amin Nasser said on Tuesday.April’s crude supply will be “300,000 barrels per day over the company’s maximum sustained capacity of 12 million bpd,” Nasser said in a statement received by Reuters.The company has agreed with its customers to provide those ...
Tags: Travel, Reuters, Aramco, Nasser, Rupert Neil Bumfrey, Amin Nasser


RPT- #Saudi Aramco launches largest shale gas development outside U.S. - Reuters

RPT-Saudi Aramco launches largest shale gas development outside U.S. - Reuters:Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday. The world’s top crude oil exporter has for years battled for market share with rapidly expanding shale oil producers in the United States, which in just a decade have developed capacit...
Tags: Travel, Saudi Arabia, Russia, United States, Reuters, Aramco, Saudi Aramco, U S Reuters, Rupert Neil Bumfrey, Amin Nasser, RPT Saudi Aramco


#SaudiArabia to Invest $110 Billion in Jafurah Gas Field - Bloomberg

Saudi Arabia to Invest $110 Billion in Jafurah Gas Field - Bloomberg:Saudi Arabia plans to invest 412 billion riyals ($110 billion) to develop unconventional natural gas reserves in the eastern Jafurah field, according to the kingdom’s official Saudi Press Agency.Crown Prince Mohammed bin Salman presided over a meeting of the Saudi High Commission for Hydrocarbons on Thursday during which the development plans were reviewed, the agency reported late Friday. The field is estimated to hold 200 tri...
Tags: Travel, Saudi Arabia, Mohammed bin Salman, Saudi Press Agency, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Amin Nasser, Jafurah, Jafurah Gas Field Bloomberg, Saudi High Commission for Hydrocarbons


Aramco CEO Says Oil’s ‘Central Bank’ Can Handle Any Disruption - Bloomberg

Aramco CEO Says Oil’s ‘Central Bank’ Can Handle Any Disruption - Bloomberg:Aramco’s quick recovery from the attacks on its Abqaiq oil facility shows resilience and flexibility that’s without parallel in the industry, proving to the world that Saudi Arabia is a reliable supplier, said Chief Executive Officer Amin Nasser.State-run Saudi Arabian Oil Co., which is the world’s most valuable company, has well-drilled emergency response units and massive flexibility built into its facilities, Nasser sa...
Tags: Travel, Saudi Arabia, Bloomberg, Aramco, Saudi Aramco, Nasser, Bloomberg TV, Dammam, Saudi Arabian Oil Co, Abqaiq, Rupert Neil Bumfrey, Amin Nasser, Aramco CEO Says Oil 's ` Central Bank


Joint #Saudi, Kuwaiti oil field expected to produce 320,000 bpd by end-2020 - Reuters

Joint Saudi, Kuwaiti oil field expected to produce 320,000 bpd by end-2020 - Reuters:Saudi Arabia’s energy minister said on Wednesday the Khafji oil field which is jointly operated with Kuwait would produce 320,000 oil barrels per day (bpd) at the end of 2020, Saudi-owned al-Arabiya TV reported.Prince Abdulaziz bin Salman made the announcement at Khafji oil field complex in Saudi Arabia, a day after signing a deal with Kuwait that ended a dispute over the partitioned Neutral Zone that is shared ...
Tags: Travel, Saudi Arabia, Opec, Kuwait, Reuters, Al Arabiya TV, Rupert Neil Bumfrey, Khafji, Amin Nasser, Abdulaziz bin Salman, Neutral Zone, Wafra



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