Global integrated energy and chemicals company Saudi Aramco is exploring further collaboration with Thailand’s national oil company PTT, as it expands its downstream presence in Asia, Aramco announced in a statement. The two companies signed a memorandum of understanding at a ceremony in Bangkok on May 11. With the agreement in place, the companies aim […]
Saudi Aramco
Posted inNews
Saudi Aramco to remain ‘world’s preeminent producer’ of oil, gas amid net zero goal: Yasir Al-Rumayyan
The chairman went on to say that “energy transitions take time"
Saudi Arabian energy giant Aramco plans on remaining the world’s most important producer of oil and gas even while it intends to achieve net zero Scope 1 and 2 greenhouse gas emissions across all of the assets it owns and operates, the chairman of the company’s board of directors Yasir Al-Rumayyan said in a statement. […]
Posted inNews
Saudi energy giant Aramco signs 50 agreements during iktva forum
The iktva program aims to help drive domestic value creation in the Kingdom and build a supply chain that helps maximize the long-term economic growth and diversification of Saudi Arabia
Saudi Arabian energy firm Aramco announced that it had signed 50 new Memoranda of Understanding (MoUs) at the In-Kingdom Total Value Add Forum (iktva) and Exhibition. Among those signed include some major agreements with Schlumberger for a partnership on climate leadership and digitalisation through localisation initiatives; Cameron/TechnipFMC/Baker Hughes for wellhead equipment localization procurement agreements; Larsen […]
Posted inNews
Aramco-sponsored hydrogen truck enters Dakar Rally
The truck was developed by French manufacturer Gaussin
The first hydrogen-fuelled racing truck was introduced to the Dakar Rally on Saturday. The truck is sponsored by Saudi Arabian energy giant Aramco and developed by French manufacturer Gaussin. “This is a milestone in the development of hydrogen as a lower-carbon fuel and the first time a hydrogen truck has entered the Dakar Rally,” Ahmad […]
Posted inNews
Aramco, AEC announce partnership focused on accelerating Saudi Arabia’s digital ecosystem
The announcement comes as Aramco pursues several business digitalisation programmes
Saudi Arabian energy giant Aramco and Saudi-based Advanced Electronic Company (AEC) announced late last week that they had signed a memorandum of understanding (MoU) to help promote the localisation of digital businesses in the Kingdom. AEC, a Saudi Arabian Military Industries (SAMI) company, and Aramco said that the MoU would support efforts to enable the […]
Posted inNews
India’s Reliance to reevaluate $15 billion deal with Saudi Aramco
The sale had been in process since August 2019.
Saudi Arabian oil giant Saudi Aramco and Reliance, India’s largest petrochemical firm, have mutually agreed to reevaluate a $15 billion deal for Aramco to purchase a 20 percent stake in Reliance’s oil-to-chemical business. The sale had been announced in 2019, but progress has been slow. Oil prices crashed last year due to a huge demand […]
Posted inExploration & Production
Aramco Q3 net income rises to $30.4 billion
The company's net income rose 158% year-on-year in Q3 2021
Aramco’s net income for Q3 2021 rose 158% year-on-year (yoy) to $30.4 billion and the company declared a dividend of $18.8 billion to be paid in the fourth quarter. The increase in net income was primarily the result of higher crude oil prices and volumes sold and stronger refining and chemicals margins in Q3, which […]
Posted inEnergy Transition
Future Investment Initiative day two wrap-up
The second day of the 5th Anniversary Future Investment Initiative (FII), which kicked off in Riyadh on Tuesday with world leaders, global CEOs, investors, and policymakers in attendance, saw another day of lively debate and discussions including the impact of climate change, investing in green initiatives, ESG and sustainable food security and their influence on […]
Posted inEnergy Transition, News
Saudi Aramco aims to achieve net zero emissions by 2050: CEO
This follows the Saudi Crown Prince's announcement of the ambition for KSA to achieve net zero emissions by 2060
Saudi Aramco is aiming to achieve net zero emissions by 2050, the company’s President and CEO Amin Nasser said at the Saudi Green Initiative Forum on Saturday. The announcement came after HRH the Crown Prince Mohammed bin Salman Al Saud revealed that Saudi Arabia aims to achieve net zero emissions by 2060 through the Carbon […]
Posted inProducts & Services
Aramco’s Abqaiq facility added to WEF Global Lighthouse Network
Abqaiq becomes Aramco’s third facility to be included in the World Economic Forum’s group of 4IR pioneers
The World Economic Forum has recognized a third Aramco facility, Abqaiq, for its pioneering adoption and integration of cutting-edge technologies of the Fourth Industrial Revolution (4IR). The Abqaiq oil processing facility, the largest oil processing plant in the world, joins Aramco’s Uthmaniyah Gas Plant and Khurais oil complex in the Forum’s prestigious Global Lighthouse Network. […]
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