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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


Aramco’s $75 Billion Dividend Survives Oil and Earnings Rout - Bloomberg video

Aramco’s $75 Billion Dividend Survives Oil and Earnings Rout - Bloomberg 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.Aramco will make the payout -- the largest of any listed company and almost all which goes to Saudi Arabia’s government -- for 2020 despite a slump in earnings and revenue. The dividend is a key source of cash for the kingdom, whose economy was hit af...
Tags: Travel, Saudi Arabia, Bloomberg, Aramco, Royal Dutch Shell Plc, Rupert Neil Bumfrey, Bloomberg Saudi Aramco


#Saudi Aramco Seeks $7.5 Billion Loan for Pipeline Investors - Bloomberg

Saudi Aramco Seeks $7.5 Billion Loan for Pipeline Investors - Bloomberg Saudi Aramco is lining up a loan of about $7.5 billion for potential investors in its oil pipelines, according to people familiar with the matter.The world’s biggest oil producer has begun talks with lenders to secure favorable terms for the funding package that would then be offered to investors, the people said, asking not to be identified as the information is private. The discussions are occurring in parallel with the sa...
Tags: Travel, Aramco, Saudi Aramco, JPMorgan Chase Co, Moelis Co, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Bloomberg Saudi Aramco, Pipeline Investors Bloomberg


World’s Biggest Oil Firm #Saudi Aramco Raises $8 Billion Bond - Bloomberg

World’s Biggest Oil Firm Saudi Aramco Raises $8 Billion Bond - Bloomberg Saudi Aramco returned to the debt markets for the first time since April of last year, selling $8 billion of bonds to help fund the world’s biggest dividend.The state oil and gas firm issued the debt on Tuesday after slumping crude prices caused profit to fall by 45% in the third quarter. That’s left it unable to generate enough cash to fund shareholder payouts it’s promised will reach $75 billion this year. Almost all of t...
Tags: Travel, Bloomberg, Aramco, Rupert Neil Bumfrey, Billion Bond Bloomberg, Bloomberg Saudi Aramco


#SaudiArabia’s Gas Push Pays Off as Production Hits Record - Bloomberg

Saudi Arabia’s Gas Push Pays Off as Production Hits Record - Bloomberg Saudi Aramco’s greater focus on developing natural gas resources paid off with record daily output of the fuel -- but it still wasn’t enough to keep the kingdom’s power plants supplied when they needed it most.Saudi Arabia consumes all the gas it produces, much of it to generate electricity. Because gas pollutes less than crude, power plants prefer it as fuel.Aramco pumped a record 10.7 billion cubic feet of gas on Aug. 6, th...
Tags: Travel, Saudi Arabia, Bloomberg, Aramco, BP Plc, Joint Organisations Data Initiative, Rupert Neil Bumfrey, Bloomberg Saudi Aramco