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#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


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


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


#Saudi Aramco Global IPO Looks Unlikely Under New Shareek Plan - Bloomberg

Saudi Aramco has been invited by Crown Prince Mohammed bin Salman to participate in a new initiative whereby it will invest tens of billions of dollars in the future of Saudi Arabia. To which one might respond: Doesn’t Aramco do that already?It’s a fair question. The “Shareek,” or “partnership,” plan was announced in a late-night teleconference last week. Large companies, including Saudi Arabian Oil Co., are to invest 5 trillion riyals ($1.33 trillion) in the domestic economy over this decad...
Tags: Travel, Saudi Arabia, Ipo, Aramco, Saudi Aramco, Bloomberg News, Mohammed bin Salman, Saudi Basic Industries Corp, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Aramco Sabic, Saudi Aramco Global IPO


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


#Saudi Aramco Slows Diversification Plans Amid Industry Downturn - WSJ

Saudi Aramco Slows Diversification Plans Amid Industry Downturn - WSJ:Saudi Arabia’s state oil giant is reviewing plans to expand at home and abroad in the face of sharply lower oil prices and a heavy dividend burden it assumed as part of its recent initial public offering, according to people familiar with the matter.Saudi Aramco is now slowing down and reviewing a $6.6 billion plan to add petrochemical output at its Motiva refinery in Texas, these people said. It is also reviewing a big natura...
Tags: Travel, Texas, Saudi Arabia, Pakistan, Aramco, Saudi Aramco, Dhahran, China India, Sempra Energy, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Motiva


Global Oil News: #Saudi Aramco Suspends $10 Billion China Crude Refinery Venture - Bloomberg

Global Oil News: Saudi Aramco Suspends $10 Billion China Crude Refinery Venture - Bloomberg:Saudi Arabia’s state oil company has suspended a deal to build a $10 billion refining and petrochemicals complex in China, according to people familiar with the matter, as the company slashes spending to cope with low oil prices.Saudi Arabian Oil Co., or Aramco, decided to stop investing in the facility in China’s Northeastern province of Liaoning after negotiations with its Chinese partners, said the peo...
Tags: Travel, Saudi Arabia, China, Aramco, Liaoning, Saudi Arabian Oil Co, Norinco, Rupert Neil Bumfrey, China North Industries Group Corp, Billion China Crude Refinery Venture Bloomberg, Panjin Sincen


#Saudi Aramco's stock trades on a different planet - Arabianbusiness

Saudi Aramco's stock trades on a different planet - Arabianbusiness:Don’t worry if you missed Saudi Aramco’s earnings call: There wasn’t one.Now the sticklers and bores among you might raise a hand and suggest that, what with the global pandemic, oil crash and assorted what-have-yous, it might be advisable for the biggest oil major in the world to spare an hour for an update. But honestly, does it really matter? I mean, look at this:So how are things?Shares in Saudi Arabian Oil Co., to give the ...
Tags: Travel, Financial Times, Aramco, Saudi Aramco, BP Plc, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Bernard Looney


Indian billionaire Ambani accelerates debt plan as stake sale to #Saudi drags - Arabianbusiness

Indian billionaire Ambani accelerates debt plan as stake sale to Saudi drags - Arabianbusiness:Mukesh Ambani, Asia’s richest man, accelerated the timeframe for wiping out $21 billion in net debt at his Reliance Industries Ltd., seeking to quash skepticism that emerged as talks to sell a stake in some assets to Saudi Arabian Oil Co. have dragged on.The oil, telecom and retail conglomerate now expects to reach zero net debt ahead of the March 2021 target Ambani had set in August, the Mumbai-based ...
Tags: Travel, Mumbai, Reliance, Reliance Industries Ltd, Facebook Inc, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Ambani, Mukesh Ambani Asia, Reliance Industries ' Jio Platforms


Saudis Set to Sell 600,000 Barrels a Day of Oil to U.S. in April - Bloomberg

Saudis Set to Sell 600,000 Barrels a Day of Oil to U.S. in April - Bloomberg:Saudi Arabia is set to sell about 600,000 barrels a day of crude to the U.S. in April, the highest volume in a year, according to a Saudi industry official familiar with allocations to American refiners.The shipments, agreed with refiners as Saudi Arabia ramped up production to a record 12.3 million barrels a day this month, come at a moment when U.S. demand is sharply down due to lockdowns to slow the Covid-19 pandemic...
Tags: Travel, Saudi Arabia, Russia, Opec, Saudi Arabian Oil Co, Rupert Neil Bumfrey


Saudi Aramco Earnings Call Underscores Government Ties - Bloomberg

Saudi Aramco Earnings Call Underscores Government Ties - Bloomberg:Congratulations Saudi Aramco investors: You bought a country.Saudi Arabian Oil Co. hosted its first ever earnings call as a public company on an even tougher-than-usual Monday morning (New York time). The results themselves weren’t bad; with $88 billion of net income, it is perhaps no wonder the great-quarter-guys statements from some analysts were more elaborate than usual.But 2019 is, of course, so last year at this point.Aramc...
Tags: Travel, New York, Saudi Arabia, Bloomberg, Britain, Riyadh, Aramco, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Congratulations Saudi Aramco


Oil giant Saudi Aramco sees 2019 profits drop 20% to $88.2B

Oil giant Saudi Aramco said Sunday its profits dropped 20% in 2019 to $88.2 billion, a sharp decline coming as the kingdom stands ready to flood an already-weakened global energy market amid the new coronavirus pandemic. The announcement by the firm formally known as the Saudi Arabian Oil Co. did not address the kingdom's plans to crank up production to record levels after a meeting earlier this month between OPEC and Russia failed to see nations agree to a production cut. In its results, Aram...
Tags: News, Russia, Opec, Aramco, Saudi Aramco, Saudi Arabian Oil Co


#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


OPEC Deal Isn't Worth the Paper It's Written On - Bloomberg

OPEC Deal Isn't Worth the Paper It's Written On - Bloomberg:There was an elephant in the room during the recent OPEC+ meeting: The record-breaking initial public offering of Saudi Arabia’s mammoth oil company Saudi Aramco occurring at exactly the same time.The coincidence meant that the output cuts agreed by OPEC and its allies were designed as much to bolster the share price of Saudi Arabian Oil Co., as they were to balance the oil market going into 2020. This will greatly complicate matters fo...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, Vienna, Saudi Aramco, Saudi Arabian Oil Co, Rupert Neil Bumfrey


Aramco’s Long-Delayed Mega-IPO Is Finally Set to Hit the Market - Bloomberg

Aramco’s Long-Delayed Mega-IPO Is Finally Set to Hit the Market - Bloomberg:Crown Prince Mohammed bin Salman had only just started his rise to global notoriety when he stunned the global business community in early 2016 by promising to sell shares in the Saudi Arabian Oil Co., the state oil producer. Now, after several false starts, the initial public offering of Saudi Arabia’s crown jewel—Aramco, which pumps 10% of the global crude oil supply from abundant fields under the kingdom’s desert—is f...
Tags: Travel, Saudi Arabia, Aramco, Mohammed bin Salman, Alibaba Group Holding Ltd, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Amin Nasser, Market Bloomberg


Aramco Needs More Than Bourse’s Invisible Hand to Buoy Its Stock - Bloomberg

Aramco Needs More Than Bourse’s Invisible Hand to Buoy Its Stock - Bloomberg:Saudi Aramco’s shares, when they’re finally issued, may just prove to be havens in a volatile region. At least in the beginning.Given the wide-spread speculation that government-related funds prop up the market when times are bad, some investors assume shares of Saudi Arabian Oil Co. wouldn’t be allowed to perform badly, especially given the hype around the initial public offering.But even if they do, the support probab...
Tags: Travel, Bloomberg, Aramco, Saudi Aramco, Saudi Arabian Oil Co, Rupert Neil Bumfrey


#Saudi Aramco Is Said to Consider Shale Investment With Equinor - Bloomberg

Saudi Aramco Is Said to Consider Shale Investment With Equinor - Bloomberg:Saudi Aramco is weighing a potential investment in Norwegian oil company Equinor ASA’s U.S. shale operations in what could be the energy giant’s first ever overseas venture for gas exploration, according to people familiar with the matter. The state-run company, known officially as Saudi Arabian Oil Co., is considering investing in Equinor’s Marcellus shale operations through a joint venture or by buying a stake, the peop...
Tags: Travel, Aramco, Saudi Aramco, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Equinor, Equinor ASA, Equinor Bloomberg, Representatives for Aramco


Reliance Said to Weigh Refinery Stake Sale to Aramco, Adnoc - Bloomberg

Reliance Said to Weigh Refinery Stake Sale to Aramco, Adnoc - Bloomberg:Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is considering selling as much as 25 percent of its refinery business in a deal that could fetch at least $10 billion, people with knowledge of the matter said.Reliance is sounding out potential investors including state-owned Saudi Arabian Oil Co. and Abu Dhabi National Oil Co. to gauge their interest, according to the people, who asked not to be identified because...
Tags: Travel, Reliance, Aramco, Reliance Industries Ltd, Saudi Arabian Oil Co, Mukesh Ambani, Rupert Neil Bumfrey, Abu Dhabi National Oil Co


Saudis Quietly Raised Aramco Royalties With Switch to Brent Oil - Bloomberg

Saudis Quietly Raised Aramco Royalties With Switch to Brent Oil - Bloomberg:Saudi Arabia quietly raised taxation on Aramco by switching the oil benchmark used to calculate royalties, from the actual value of the kingdom’s crude to the more expensive benchmark Brent.The switch, made in 2017 but revealed this week in the prospectus for Saudi Arabian Oil Co.’s first ever international bond, shows how the kingdom is squeezing its oil company for money even after lowering other taxes. The change coul...
Tags: Travel, Saudi Arabia, Aramco, Bloomberg News, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Brent Oil Bloomberg


#SaudiArabia unveils new gas fields in Red Sea: Falih | ZAWYA MENA Edition

Saudi Arabia unveils new gas fields in Red Sea: Falih | ZAWYA MENA Edition:Saudi Arabia announced discovering large quantities of gas in the Red Sea, the Saudi Press Agency (SPA) reported on Saturday, citing the kingdom’s energy minister Khalid Al-Falih as saying.The state-owned Saudi Arabian Oil Co, known globally as Saudi Aramco, will implement the project’s feasibility studies to see the possibility of exploration in this area over the next two years, Al-Falih added.On a related note, Aramco,...
Tags: Travel, Saudi Arabia, Saudi Aramco, Red Sea, Khalid al Falih, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Al Falih, Saudi Press Agency SPA


Saudi Aramco Expands While Oil Retreats - Bloomberg

Saudi Aramco Expands While Oil Retreats - Bloomberg:According to Khalid Al-Falih, Saudi Arabia’s energy and industry minister and chairman of Saudi Arabian Oil Co., “the world is going to be Saudi Aramco’s playground.” If it is, then that will be partly because some others have ceded ground.In an interview with the Financial Times published this week, Al-Falih sketched out plans for Saudi Aramco to build an international exploration and production business for the first time. Traditionally, Aram...
Tags: Travel, Saudi Arabia, Financial Times, Aramco, Saudi Aramco, Exxon Mobil Corp, Khalid al Falih, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Al Falih, Saudi Aramco Expands While Oil Retreats Bloomberg


Aramco's $1.6 Billion Korea Deal Deepens Asian Refining Ties - Bloomberg

Aramco's $1.6 Billion Korea Deal Deepens Asian Refining Ties - Bloomberg:Saudi Arabian Oil Co. is taking a nearly 20 percent stake in South Korean oil refiner Hyundai Oilbank Co. for $1.6 billion, tightening the grip of the world’s top crude exporter on the biggest oil consuming region.The Saudi state-owned giant, known as Aramco, is seeking to firm up its customer base and market share in Asia as it moves toward a partial listing in what could be the biggest-ever initial public offering.The Hyu...
Tags: Travel, Asia, South Korea, Japan, Aramco, Saudi Arabian Oil Co, Rupert Neil Bumfrey, China India Indonesia Malaysia, Hyundai Oilbank, S Oil Corp, Hyundai Oilbank Co, Pakistan Aramco, Showa Shell Sekiyu KK


Bin Salman's $2 Trillion Saudi Aramco IPO Vow Still Unrealistic - Bloomberg

Bin Salman's $2 Trillion Saudi Aramco IPO Vow Still Unrealistic - Bloomberg:Friday’s news that Saudi Arabia’s crown prince vows a $2 trillion IPO of Saudi Aramco within a few years may provoke a sense of déjà vu. It’s essentially the same headline that flashed around the world in early 2016, when he first raised the idea. Back then, it provoked a reaction of “Wow! Really?” Now it’s more “Huh. Really?”Prince Mohammed Bin Salman reaffirmed plans for the biggest-ever IPO, and talked about much else...
Tags: Travel, Saudi Arabia, Bloomberg, Aramco, Saudi Aramco, Bloomberg News, Mohammed bin Salman, SABIC, Saudi Basic Industries Corp, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Bin Salman


Aramco Is Not Alone as Saudi Arabia's Privatization Push Slows - Bloomberg

Aramco Is Not Alone as Saudi Arabia's Privatization Push Slows - Bloomberg:Aramco may have grabbed the biggest headlines, but the oil giant’s delayed initial public offering is just the latest sign of Saudi Arabia’s slowing privatization push. The program is part of Crown Prince Mohammed bin Salman’s Saudi Vision 2030 to transform the economy and envisages the sale of stakes in ports, railways, utilities and airports. When the government began to consider the plans almost three years ago, Brent ...
Tags: Travel, Saudi Arabia, International Monetary Fund, Mohammed bin Salman, Saudi Arabian Oil Co, Rupert Neil Bumfrey


Aramco's IPO Delay Brings Silver Lining for Saudi Stocks - Bloomberg

Aramco's IPO Delay Brings Silver Lining for Saudi Stocks - Bloomberg:There’s a silver lining for Riyadh-traded stocks in the delay to Saudi Arabian Oil Co.’s massive initial public offering.While putting the oil giant’s market debut on hold has reduced Saudi Arabia’s likely profile on emerging-market equity indexes when the kingdom joins them next year, the decision has also removed a threat to investments in other Saudi stocks from what was set to be the world’s largest IPO.Listing Aramco would...
Tags: Travel, Saudi Arabia, Ipo, Bloomberg, Middle East, Riyadh, Aramco, Bloomberg Television, Credit Suisse Group AG, Saudi Arabian Oil Co, Rupert Neil Bumfrey


Saudi Aramco IPO Concept Was Far Too Premature - Bloomberg

Saudi Aramco IPO Concept Was Far Too Premature - Bloomberg:I’ve long thought that Crown Prince Mohammed bin Salman’s life overlaps in curious but important ways with one Elon Musk, CEO of Tesla Inc. And now, MBS even has his own take on Musk’s “funding secured” meme.The long-awaited initial public offering of Saudi Arabian Oil Co., or Saudi Aramco, has been put on hold, according to my colleagues in Bloomberg News. Given it is already two-and-a-half years since the sale was first mooted, “on hol...
Tags: Travel, Elon Musk, Ipo, Musk, Reuters, Saudi Aramco, Mohammed bin Salman, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Tesla Inc, Bloomberg News Given


Debt Is the Easy Way for Aramco - Bloomberg

Debt Is the Easy Way for Aramco - Bloomberg:Saudi Arabian Oil Co. is a gigantic company that owns gigantic oil reserves and makes gigantic amounts of money every year by pumping and selling that oil. It is also a state-owned company whose fortunes are intertwined with Saudi Arabia’s ruling dynasty, and that has some history of confusing the desires of that dynasty with the business needs of the company. Also it, or rather they—Saudi Aramco and the Saudi rulers, jointly—want to raise something on...
Tags: Travel, Saudi Arabia, Aramco, Saudi Aramco, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Easy Way, Public Investment Fund, Aramco Bloomberg


Saudi Aramco’s Strange Chemical Attraction - Bloomberg

Saudi Aramco’s Strange Chemical Attraction - Bloomberg:Saudi Aramco’s IPO may be on hold, but that doesn’t mean its bankers are idle.It emerged on Thursday that the state-owned oil champion — full name: Saudi Arabian Oil Co. — is considering buying a stake in Saudi Basic Industries Corp., or Sabic, a giant chemicals firm.From a banker’s perspective, such a deal is a gift — not least from a logistical perspective, since everyone involved is within easy reach of each other and largely answers to t...
Tags: Travel, Saudi Arabia, Pif, Aramco, Saudi Aramco, SABIC, Saudi Basic Industries Corp, Saudi Arabian Oil Co, Rupert Neil Bumfrey, Strange Chemical Attraction Bloomberg