The shares jumped as much as 20% to 120 riyals on Monday
NEWS
Posted inNews
Al-Aydan appointed as CEO of Kuwait Oil Company
The Kuwait Petroleum Corp (KPC) has appointed Ahmed Jaber al-Aydan as CEO of Kuwait Oil Company, state news agency KUNA reported on Sunday. Additionally, Wadha al-Khateeb was named CEO of Kuwait National Petroleum Company (KNPC). New leaders were also chosen for Kuwait Integrated Petroleum Industries Company (KIPIC) and other state companies in the sector. In […]
Posted inDownstream
Saudi Aramco signs $735 million crude supply deal with China
The deal was sealed during the weekend at the 5th China International Import Expo in Shanghai
Posted inNews
After Germany, ADNOC signs LNG supply deal with Austria to replace Russian gas
ADNOC signed an agreement with Austria’s OMV on October 27 to explore a partnership for the supply of LNG. According to the MoU, ADNOC will look to supply one LNG cargo to OMV for the winter season of 2023-24. Austria has been looking for alternative sources of natural gas since Russia’s invasion of Ukraine. “We […]
Posted inEnergy Transition
Aramco announces $ 1.5 billion sustainability fund to support energy transition
Aramco announced the creation of a $1.5 billion sustainability fund to invest in technology that can support a stable and inclusive energy transition. It was unveiled at the sixth edition of the Future Investment Initiative (FII) and is among the largest sustainability-focused venture capital funds globally. Managed by Aramco Ventures, the venture capital arm of […]
Posted inExploration & Production
India’s Reliance Industries to restructure EPC business
The realigned EPC resources will further strengthen the company’s EPC delivery capabilities, the firm said
Posted inNews
Stop ‘bullying’ Saudi Arabia over OPEC cuts, Turkish foreign minister tells US
Turkish Foreign Minister Mevlut Cavusoglu said on Friday it was not right for the United States to “bully” Saudi Arabia after OPEC+ oil producers announced production cuts earlier this month, defying Biden’s pleas. “We see that a country has threatened Saudi Arabia, especially recently. This bullying is not correct,” Cavusoglu said at a news conference in southern Turkey. President Joe Biden […]
Posted inExploration & Production
QatarEnergy announces Shell as partner for giant LNG project
Last month, QatarEnergy selected TotalEnergies as the first international partner in the NFS expansion project
Posted inEarnings
Abu Dhabi’s NMDC reports significant profit growth in 2022
The net profit of the National Marine Dredging Company Group (NMDC) grew 40.3% during the first nine months of 2022 to AED703 million, from AED501 million during the same period in 2021, WAM reported Oct 21. The positive results showcase the NMDC’s success in implementing its geographical expansion strategy, diversifying into new business verticals, and […]
Posted inNews
Aramco launches $800 million program to support small businesses
Saudi oil major Aramco announced on Thursday the launch of a new program named Taleed, which aims to accelerate the growth of Small and Medium Enterprises (SMEs) in Saudi Arabia — helping boost their contribution to economic development and support job creation. It also aims to deliver funding and financial solutions to existing and new […]
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