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MIDEAST STOCKS Most Gulf bourses gain on corporate earnings boost | Reuters

MIDEAST STOCKS Most Gulf bourses gain on corporate earnings boost | Reuters Most major stock markets in the Gulf ended higher on Wednesday, largely supported by strong corporate earnings, while the Dubai index closed lower and was the only laggard.Saudi Arabia's benchmark index (.TASI) rose 0.2%, helped by a 0.4% gain in Al Rajhi Bank (1120.SE) and a 0.6% increase in oil behemoth Saudi Aramco (2222.SE).Ratings firm Fitch raised Aramco's outlook to stable and affirmed its IDR at "A".In Abu ...
Tags: Travel, Saudi Arabia, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Aramco, Emirates NBD, Fitch, Tasi, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, Gulf Egypt


#Saudi Aramco Confirms Data Leak After Ransomware Cyber Attack - Bloomberg

Saudi Aramco Confirms Data Leak After Ransomware Cyber Attack - Bloomberg Saudi Aramco confirmed that some company files were leaked after hackers reportedly demanded a $50 million ransom from the world’s most-valuable oil producer.“Aramco recently became aware of the indirect release of a limited amount of company data which was held by third-party contractors,” the Middle Eastern oil major said Wednesday in an email. “We confirm that the release of data was not due to a breach of our systems...
Tags: Travel, Saudi Arabia, Bloomberg, Ap, Middle East, Associated Press, Aramco, Interior Ministry, PricewaterhouseCoopers LLP, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Colonial Pipeline, Bloomberg Saudi Aramco, PJM Interconnection LLC


#Saudi Aramco drops Morgan Stanley on gas pipelines deal -sources | Reuters

Saudi Aramco drops Morgan Stanley on gas pipelines deal -sources | Reuters Saudi Aramco has dropped Morgan Stanley (MS.N) as an adviser for the sale of its gas pipelines and picked JPMorgan (JPM.N) and Goldman Sachs (GS.N) for the role, three sources familiar with matter said.JPMorgan had also advised Aramco on the sale of the oil pipeline business, which was sold to a consortium led by Washington-DC based EIG Global Energy Partners for $12.4 billion. read moreAramco has also invited banks to ...
Tags: Travel, Washington Dc, Morgan Stanley, Reuters, Aramco, Saudi Aramco, Jpmorgan, Rupert Neil Bumfrey, Morgan Stanley MS N, EIG Global Energy Partners, Reuters Saudi Aramco, Goldman Sachs GS N


#Saudi Aramco to Sell More Assets in Multi-Billion Dollar Push - Bloomberg

Saudi Aramco to Sell More Assets in Multi-Billion Dollar Push - Bloomberg The world’s largest oil company, Saudi Aramco, is planning to raise tens of billions of dollars by selling more stakes in its businesses.The Saudi Arabian state-controlled firm created a new team to review its assets last year, soon after the coronavirus pandemic triggered a plunge in energy prices and strained its balance sheet. Aramco raised $12.4 billion by selling leasing rights over oil pipelines to a U.S.-led group...
Tags: Travel, Bloomberg, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Abdulaziz Al Gudaimi, Al Gudaimi


Ambani's Reliance Invests in #AbuDhabi Petrochemicals Hub - Bloomberg

Ambani's Reliance Invests in Abu Dhabi Petrochemicals Hub - Bloomberg Reliance Industries Ltd. is set to invest in petrochemical facilities in Abu Dhabi, according to people familiar with the matter, as it strengthens energy ties with the Middle East.The Indian conglomerate plans to join projects at Abu Dhabi National Oil Co.’s Ruwais refining hub, the people said. India’s Economic Times, which first reported the news, said the investment will amount to as much as $1.5 billion and may be annou...
Tags: Travel, Asia, India, Middle East, United Arab Emirates, Abu Dhabi, Reliance, Aramco, Saudi Aramco, Economic Times, ADNOC, Mukesh Ambani, Rupert Neil Bumfrey, Ambani, Abu Dhabi National Oil Co, Yasir al Rumayyan


#Saudi Aramco seeks financing advisor for gas pipeline deal -sources | Reuters

Saudi Aramco seeks financing advisor for gas pipeline deal -sources | Reuters Saudi Aramco (2222.SE) has invited banks to pitch for an advisory role to help finance the sale of a significant minority stake in its gas pipelines, the oil giant's second major midstream deal after a $12.4 billion deal for oil pipelines, three sources said.Aramco has already hired Morgan Stanley (MS.N) as an M&A advisor and the financing advisory role is up for grabs among banks, two of the sources said.The gas pip...
Tags: Travel, Reuters, Aramco, Saudi Aramco, Rupert Neil Bumfrey, Morgan Stanley MS N, Reuters Saudi Aramco, Aramco Oil Pipelines Co


#Saudi Aramco Bets on Blue Hydrogen Exports Ramping Up From 2030 - Bloomberg video

Saudi Aramco Bets on Blue Hydrogen Exports Ramping Up From 2030 - Bloomberg Saudi Aramco outlined plans to invest in blue hydrogen as the world shifts away from dirtier forms of energy, but said it will take at least until the end of this decade before a global market for the fuel is developed.“We’re going to have a large share” of the market for blue hydrogen, Aramco’s chief technology officer, Ahmad Al-Khowaiter, said in an interview with Bloomberg Television on Sunday in Dhahran, eastern ...
Tags: Travel, Saudi Arabia, Bloomberg, Aramco, Bloomberg Television, Dhahran, Rupert Neil Bumfrey, Bloomberg Saudi Aramco, Ahmad Al Khowaiter, Khowaiter


EIG-led consortium closes $12.4 bln Aramco pipelines deal | Reuters

EIG-led consortium closes $12.4 bln Aramco pipelines deal | Reuters U.S.-based EIG Global Energy Partners said on Friday a consortium it led has closed a deal to buy 49% of Saudi oil producer Aramco's (2222.SE) pipelines business for $12.4 billion.EIG said the co-investment process for the deal attracted a global group of investors from China, Saudi Arabia, Korea, the United Arab Emirates and the United States.It included Abu Dhabi's Mubadala Investment Company, Silk Road Fund, Hassana and Sam...
Tags: Travel, United States, United Arab Emirates, Abu Dhabi, Reuters, Aramco, Reuters U S, EIG, Rupert Neil Bumfrey, EIG Global Energy Partners, China Saudi Arabia Korea, Mubadala Investment Company Silk Road Fund Hassana, Samsung Asset Management


#Saudi Aramco raises $6 billion with debut sukuk | Reuters

Saudi Aramco raises $6 billion with debut sukuk | Reuters Saudi Arabian oil giant Aramco (2222.SE) locked in another $6 billion on Wednesday to help fund a large dividend as it returned to the international debt markets with its first U.S. dollar-denominated sukuk sale, a document showed.The debt issuance, which will help fund a $75 billion dividend commitment that will mostly go to the government, comprises tranches of three, five and 10 years, a document from one of the banks arranging the d...
Tags: Travel, Saudi Arabia, Gulf, Reuters, Aramco, Saudi Aramco, Moody, BOC, UST, Rupert Neil Bumfrey, Dubai Islamic Bank, U S Treasuries UST, Citi C N HSBC, Standard Chartered Bank STAN L Passive


#Saudi Aramco Is Said to Hire Morgan Stanley for Gas Pipeline Deal - Bloomberg

Aramco Is Said to Hire Morgan Stanley for Gas Pipeline Deal - Bloomberg Saudi Aramco has hired Morgan Stanley as the lead adviser to review a potential multibillion-dollar stake sale in its natural gas pipeline network, people familiar with the matter said.The state-owned energy producer is making early preparations for the sale, according to the people, who asked not to to be identified because the information is private. The company hasn’t yet started a formal process and could add more bank...
Tags: Travel, Bloomberg, Morgan Stanley, Aramco, Rupert Neil Bumfrey, EIG Global Energy Partners LLC, Morgan Stanley for Gas Pipeline Deal Bloomberg


Aramco Starts Debut Sale of Dollar-Denominated Islamic Bonds - Bloomberg

Aramco Starts Debut Sale of Dollar-Denominated Islamic Bonds - Bloomberg Saudi Aramco, the world’s biggest energy company, started marketing its first dollar-denominated Islamic bond sale.The state-controlled company is offering sukuk due in three, five and 10 years, according to a person familiar with the matter, who asked not to be identified as the details are private.The firm is raising cash to help finance its plans to pay out $75 billion in dividends, a commitment that the oil company ma...
Tags: Travel, Saudi Arabia, Bloomberg, Aramco, Bloomberg Intelligence, Rupert Neil Bumfrey, Bloomberg Saudi Aramco, Jaimin Patel, Damian Sassower


UPDATE 1- #Saudi Aramco seen raising $3 bln-4 bln with dollar sukuk - sources | Reuters

UPDATE 1-Saudi Aramco seen raising $3 bln-4 bln with dollar sukuk - sources | Reuters Saudi Arabian oil giant Aramco is likely to raise between $3 billion and $4 billion on Wednesday, two sources said, as it returns to the international debt markets with its first U.S. dollar-denominated sukuk sale.The debt issuance, which will at least partly fund a large dividend that mostly goes to the government, will comprise tranches of three, five and 10 years, the term sheet for the sukuk seen by Reute...
Tags: Travel, Saudi Arabia, Gulf, Reuters, Aramco, Saudi Aramco, UST, BOC International, Rupert Neil Bumfrey, Dubai Islamic Bank, U S Treasuries UST


Mubadala takes stake in Aramco pipelines venture | The National

Mubadala takes stake in Aramco pipelines venture | The National Abu Dhabi’s sovereign fund Mubadala confirmed it has joined the consortium that took a significant minority stake in an oil pipeline venture with Saudi Aramco.Aramco announced a $12.4 billion deal in April for the sale of a 49 per cent stake in a newly created vehicle known as Aramco Oil Pipelines. The buyer was a consortium led by Washington-based investor EIG, an investor in energy-related infrastructure.Mubadala “has joined the...


#Saudi Aramco Hires Banks for Debut Dollar Islamic Bond Sale - Bloomberg

Saudi Aramco Hires Banks for Debut Dollar Islamic Bond Sale - Bloomberg Saudi Aramco, the world’s biggest energy company, hired advisers including Citigroup Inc. and Goldman Sachs Group Inc. for its first dollar-denominated Islamic bond sale.The state-controlled company may offer three tranches of notes due in three, five and 10 years, according to a person familiar with the matter. Islamic bonds, or sukuk, comply with the religion’s teachings, including its ban on interest.The firm is raising...
Tags: Travel, Saudi Arabia, Standard Chartered Bank, Aramco, Citigroup Inc, Goldman Sachs Group Inc, Rupert Neil Bumfrey, Monday Aramco


Aramco Said to Plan Bond Sale to Help Fund $75 Billion Dividend - Bloomberg

Aramco Said to Plan Bond Sale to Help Fund $75 Billion Dividend - Bloomberg Saudi Aramco is preparing to return to global capital markets with a bond that would help fund a $75 billion dividend commitment, according to people with knowledge of the plan.The world’s biggest energy company has picked around 15 banks to manage a sale of Islamic debt, or sukuk, that could happen this month, according to people with knowledge of the matter. The state-controlled firm may seek to raise around $5 billi...
Tags: Travel, Aramco, Persian Gulf, Aramco Said, Rupert Neil Bumfrey, Qatar Petroleum, Bloomberg Saudi Aramco, Energy Development Oman


JPMorgan Eyes $100 Million Payday on Trade Linked to Aramco Deal - Bloomberg

JPMorgan Eyes $100 Million Payday on Trade Linked to Aramco Deal - Bloomberg JPMorgan & Chase Co. is set to earn more than $100 million on a recent trade tied to the sale of a stake in Saudi Aramco’s oil pipelines, a windfall that stands out even in the sprawling interest-rate swap market, people familiar with the matter said.The bank is poised to book gains on a hedging transaction with U.S. investment firm EIG Global Energy Partners LLC, which agreed last month to invest $12.4 billion in the...
Tags: Travel, Aramco, Saudi Aramco, Jpmorgan, Rupert Neil Bumfrey, EIG Global Energy Partners LLC, Aramco Deal Bloomberg, Aramco Deal Bloomberg JPMorgan Chase Co


#Saudi Aramco 1% Stake Is a Tough Sell - Bloomberg

Saudi Aramco 1% Stake Is a Tough Sell - Bloomberg Five years after Crown Prince Mohammed Bin Salman ventured that “in 2020 we can live without oil,” he is, once again, hawking Saudi Arabia’s oil champion to raise funds. In a recent, sweeping interview with Arab News, he teased the potential sale of 1% of Saudi Arabian Oil Co., or Saudi Aramco, to a “huge company” in an oil-importing country.Who would pay $19 billion for that sliver of the Saudi dream? The obvious candidates are in Asia, where ...
Tags: Travel, Asia, Saudi Arabia, Russia, India, Bloomberg, Reliance, Reuters, Aramco, Saudi Aramco, Mohammed bin Salman, BP Plc, Reliance Industries Ltd, David Fickling, Saudi Arabian Oil Co, Rupert Neil Bumfrey


Mideast Stocks: #Saudi index edges up as Aramco beats quarterly profit estimates | ZAWYA MENA Edition

Mideast Stocks: Saudi index edges up as Aramco beats quarterly profit estimates | ZAWYA MENA Edition Saudi Arabian stocks edged higher on Tuesday, after first-quarter profit from state oil producer Saudi Aramco beat forecasts, while other major Gulf markets closed mixed.Saudi Arabia's benchmark index ended up 0.1% as Al Rajhi Bank gained 0.4% and Aramco rose 0.7%.Aramco reported a 30% rise in first-quarter net profit to $21.7 billion, compared with analysts' expectations for $19.48 billion. Ar...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Aramco, Saudi Aramco, Mideast, Rupert Neil Bumfrey, Dubai Islamic Bank, Al Rajhi Bank, First Abu Dhabi Bank, Emirates NBD Bank, Riyad Bank Abu Dhabi


MIDEAST STOCKS #Saudi stocks gain as Aramco Q1 profit tops estimates | Reuters

MIDEAST STOCKS Saudi stocks gain as Aramco Q1 profit tops estimates | Reuters Major Gulf stock markets were little changed in early trade on Tuesday, with Saudi Arabia shares rising as state oil producer Saudi Aramco's (2222.SE) first-quarter profit topped analysts' estimates.Saudi Arabia's benchmark index (.TASI) was up 0.3% after falling for three straight days. Saudi Aramco rose 0.6% after it reported a 30% rise in first-quarter net profit to $21.7 billion, compared with analysts' expectati...
Tags: Travel, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Aramco, Saudi Aramco, IHS, Tasi, Rupert Neil Bumfrey, First Abu Dhabi Bank, Emirates Telecommunications Group Etisalat, Dhabi


#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


SABIC likely to see strong earnings in 2021 on higher petchem prices | ZAWYA MENA Edition

SABIC likely to see strong earnings in 2021 on higher petchem prices | ZAWYA MENA Edition Al Rajhi Capital has raised its target price on Saudi Basic Industries Corp (SABIC) to 120 Saudi riyals ($32) per share from the earlier 115 riyals per share following its robust first-quarter 2021 results and on potential synergies from the Aramco deal.In a report the Riyadh-based investment bank said given the upward movement in petrochemical prices over the past few quarters, the company is likely to w...
Tags: Travel, Riyadh, Aramco, Saudi Aramco, SABIC, Rupert Neil Bumfrey, Al Rajhi Capital, Saudi Basic Industries Corp SABIC, MENA Edition Al Rajhi Capital


Schlumberger-Backed Arabian Drilling Said to Plan #Saudi IPO - Bloomberg

Schlumberger-Backed Arabian Drilling Said to Plan Saudi IPO - Bloomberg Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.The firm, also owned by Saudi Arabia’s Industrialization & Energy Services Company, known as Taqa, has asked banks to pitch for a role on the potential share sale, the people said, asking not to be id...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Riyadh, Aramco, Saudi Basic Industries Corp, Schlumberger, Schlumberger NV, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Taqa, Saudi Telecom Co, Arabian Drilling, Saudi Tadawul Group, Bloomberg Arabian Drilling Co


Mukesh Ambani Doesn't Have Much Need for a 1% Stake in #Saudi Aramco - Bloomberg

Mukesh Ambani Doesn't Have Much Need for a 1% Stake in Saudi Aramco - Bloomberg Could one of the energy industry’s longest-running on-again, off-again romances be catching fire again? Saudi Arabian Crown Prince Mohammed Bin Salman seems to think so. “There are discussions happening right now about a 1% acquisition by one of the leading energy companies in the world” in state-owned Saudi Arabian Oil Co., he said in a local television interview Tuesday.Prince Mohammed didn’t disclose which compa...
Tags: Travel, Jane Austen, Financial Times, Mohammed, Reliance, Aramco, Saudi Aramco, Mohammed bin Salman, Reliance Industries Ltd, Saudi Arabian Oil Co, Mukesh Ambani, Rupert Neil Bumfrey, Saudi Aramco Bloomberg


EXCLUSIVE Major Chinese investors in talks to take Aramco stake -sources | Reuters

EXCLUSIVE Major Chinese investors in talks to take Aramco stake -sources | Reuters Major Chinese investors are in talks to buy a stake in Saudi Aramco (2222.SE), several sources told Reuters on Wednesday, as Saudi Arabia's state oil firm prepares to sell another slice of its business to international investors.Saudi Arabia was in discussions to sell 1% of Aramco to a leading global energy company and could sell further shares including to international investors within the next year or two, Cr...
Tags: Travel, Saudi Arabia, Reuters, Aramco, Mohammed bin Salman, Rupert Neil Bumfrey, China Investment Corporation CIC CIC UL


MIDEAST STOCKS Banks buoy #Saudi index; other major Gulf bourses dip | Reuters

MIDEAST STOCKS Banks buoy Saudi index; other major Gulf bourses dip | Reuters Saudi Arabia's stock market outperformed the region on Wednesday, boosted by gains in financial shares, while other major Gulf markets ended lower.Saudi Arabia's Crown Prince Mohammed bin Salman said on Tuesday the kingdom had no plans to introduce income tax and a decision last July to triple value-added tax to 15% was temporary. read moreThe country had tripled VAT to offset the impact of lower oil revenue on s...
Tags: Travel, Indonesia, Saudi Arabia, United Arab Emirates, Abu Dhabi, Gulf, Reuters, Aramco, Mohammed bin Salman, Adi, Reuters Saudi Arabia, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, QSI, Al Rajhi Bank


Mideast Petrostates Ramp Up Oil-Asset Sales to Raise Billions - Bloomberg

Mideast Petrostates Ramp Up Oil-Asset Sales to Raise Billions - Bloomberg Time was when the Middle East’s petrostates recoiled from using their crown jewels to raise money from foreign investors.Not any more. In the space of a few weeks, Saudi Arabia, the United Arab Emirates, Qatar, Oman and Kuwait have all accelerated multi-billion-dollar plans to sell energy assets or issue bonds off the back of them. Capping that trend, Saudi Crown Prince Mohammed bin Salman said Tuesday the kingdom is i...
Tags: Travel, Saudi Arabia, Bloomberg, Middle East, Kuwait, Aramco, Mohammed bin Salman, Justin Alexander, Rupert Neil Bumfrey, Bloomberg Time, United Arab Emirates Qatar Oman, MENA Advisors a U K


Saudis in Talks to Sell Aramco Stake to Global Energy Firm - Bloomberg

Saudis in Talks to Sell Aramco Stake to Global Energy Firm - Bloomberg Saudi Arabia’s crown prince said the kingdom is in talks to sell a 1% stake in state oil giant Saudi Aramco to a “leading global energy company” as he forecast an economic rebound after the coronavirus pandemic.The kingdom is looking at the potential sale -- which could be worth about $19 billion, based on the company’s market value -- as a way to lock in customer demand for the country’s crude, Crown Prince Mohammed Bin Sa...
Tags: Travel, India, Bloomberg, Mohammed, Aramco, Saudi Aramco, Mohammed bin Salman, Japan South Korea, Rupert Neil Bumfrey, Bloomberg Saudi Arabia, Global Energy Firm Bloomberg, China Aramco


MIDEAST STOCKS #Saudi shares gain as major Gulf markets ease | Reuters

Saudi Arabia's stock market traded higher on Wednesday, on track to extend gains for a fifth session, while other major Gulf markets were subdued in early trade.The kingdom's benchmark index (.TASI) gained 0.7%, buoyed by a 0.9% gain in Al Rajhi Bank (1120.SE) and a 1.5% rise in petrochemical maker Saudi Basic Industries. (2010.SE)Among others, Rabigh Refining and Petrochemical Company (2380.SE) surged 10%, after the firm posted quarterly net profit.Saudi Arabia's Crown Prince Mohammed bin Salma...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Aramco, Mohammed bin Salman, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, QSI, Al Rajhi Bank, First Abu Dhabi Bank, Emirates NBD ENBD


Aramco Is Said to Weigh Sale of Stake in Natural Gas Pipelines - Bloomberg

Aramco Is Said to Weigh Sale of Stake in Natural Gas Pipelines - BloombergSaudi Aramco is considering the sale of a stake in its vast natural gas pipeline network to help free up cash and draw more international investors to the kingdom, people familiar with the matter said.The state-owned energy producer is holding preliminary discussions on the potential move, the people said, asking not to be identified because the information is private. Any deal could raise billions of dollars for Dhahran-b...
Tags: Travel, Saudi Arabia, Qatar, Aramco, Bloomberg News, Dhahran, BP Plc, Saudi Arabian Oil Co, Rupert Neil Bumfrey, EIG Global Energy Partners, Yasir al Rumayyan, Abdulaziz Al Gudaimi, Natural Gas Pipelines Bloomberg, Natural Gas Pipelines BloombergSaudi Aramco, Amin Nasser Saudi Arabia


#Saudi Aramco to Review Upstream Assets for Potential Stake Sales: Sources - Bloomberg

Saudi Aramco to Review Upstream Assets for Potential Stake Sales: Sources - BloombergSaudi Aramco is conducting a strategic review of its upstream business, in a move that could potentially see the state-owned firm bring in external investors to some of its oil and gas assets, people with knowledge of the matter said.The world’s biggest energy company is in preliminary discussions with advisers to evaluate its options, the people said, asking not to be identified as the matter is private. Aramco...
Tags: Travel, Saudi Arabia, Bloomberg, Aramco, Saudi Aramco, Saudi Arabian Oil Co, Rupert Neil Bumfrey, BloombergSaudi Aramco



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