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The Latest Breaking News from Amin Nasser

Saudi Aramco profits jump despite conflict in Middle East

Saudi Arabia’s state oil company’s profits up 26% to £26.9bn in first three months of year

The Guardian - UK

Saudi Aramco CEO issues stark warning: Iran war could bring ‘catastrophic’ shock to global oil

The world’s biggest oil exporter says reopening Middle East energy routes is critical as Trump claims the conflict may soon end.

Fortune

Aramco warns of oil market ‘catastrophe’ unless strait of Hormuz reopens soon

Saudi Arabian state oil firm calls crisis by far the biggest but company can reroute 70% of exports via its east-west pipeline

The Guardian - UK

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Trump says Iran war is 'very complete, pretty much' sparking global stock rally

But also, "we’re going to go further."

Fortune

Saudi Aramco Warns Iran War Could Have ‘Catastrophic Consequences’ for Global Oil Markets

Saudi Arabia’s state oil giant, Saudi Aramco, has warned that the escalating conflict involving Iran could trigger severe disruptions in global oil markets, particularly if shipping through the critical Strait of Hormuz continues to be affected.

Whats Hot

FTSE 100 closes higher despite sluggish economic growth

The tepid progress for the economy recently could prompt the Office for Budget Responsibility to downgrade its economic assessment.

Evening Standard

Inside the Billionaires’ Club: The 8 Richest CEOs in the World

From tech visionaries to energy moguls, these eight CEOs have redefined what it means to be wealthy in the modern age.

GOBankingRates

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Saudi Aramco CEO Calls Energy Transition Strategy A Failure

Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure on Monday.

International Business Times

World’s top fossil-fuel bosses deride efforts to move away from oil and gas

Executives at Texas summit claim clean-energy transition is failing and say world should ‘abandon the fantasy’ of fossil-fuel phaseout

The Guardian - US

The world’s third-biggest company just saw its profits plummet 38%—but it still paid shareholders $19.5 billion in dividends

The company said boosting dividends was part of a “sustainable and progressive” approach to investor payouts.

Fortune

BlackRock Called Out For ‘ESG Facade’ After Naming Saudi Aramco Chief To Board

The move raised several eyebrows across corporate and social media circles.

Zenger

Saudi Arabia has the most profitable company in the history of the world, and $3.2 trillion to invest by 2030. Who will say no to that tidal wave of cash?

With its vast supply of oil money, the kingdom's flashy play for golf dominance is just the tip of the iceberg.

Fortune

Aramco, Partners to Construct Major Refinery, Petrochemical Complex in China

Aramco and joint venture partners NORINCO Group and Panjin Xincheng Industrial Group plan to start constructing a major integrated refinery and petrochemical complex in northeast China. Huajin Aramco Petrochemical Company (HAPCO) is a joint venture between Aramco, NORINCO Group, and Panjin Xincheng Industrial Group. It is developing a complex that…

Asharq Al-Awsat

Saudi state-owned oil giant sees record profit of $161bn

It comes as energy prices spiked following Russia’s full-scale invasion of Ukraine in February 2022

The Independent UK

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The Guardian - UK

Saudi Aramco’s $161bn profit is largest recorded by an oil and gas firm

Amnesty International hits out at ‘shocking’ annual figure reaped through sale of fossil fuel

WEKU

Four takeaways as oil giant Saudi Aramco reports a huge $161 billion profit

The world's biggest oil company has announced it made $161 billion in profits in 2022, a whopping figure for the corporation and its main shareholder, the Saudi government.

Asharq Al-Awsat

Aramco Announces Strategic Partnership with Zoom, Increase in Funding for Wa’ed Ventures

Saudi Aramco announced on Monday a strategic partnership with Zoom and an increase in funding for Wa’ed Ventures. The announcements were made at the second edition of LEAP, a major international technology conference held annually in Saudi Arabia. The strategic partnership with Aramco aims to build Zoom’s first global data…

Asharq Al-Awsat

Aramco to Pump $7 Bn to Develop World's Largest Petrochemical Crackers in S. Korea

Saudi Aramco announced it was planning to invest $7 billion in South Korea to develop one of the world's largest refinery-integrated petrochemical steam crackers, which will be established in Ulsan city. The "Shaheen" project is Aramco's most significant investment in South Korea to develop one of the largest steam crackers…

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The Independent UK

Saudi Arabia has 'green vision' at COP27, critics unmoved

Saudi Arabia’s vision of an environmentally friendly future is on display just a short drive from the venue of the U.N. climate summit being held in Egypt

Asharq Al-Awsat

Saudi Aramco Posts 39% Jump in Third-quarter Profits

Saudi Aramco on Tuesday posted a 39-percent jump in third-quarter profits year on year, the latest financial results boosted by higher oil prices and volumes sold. The energy giant's net income totaled $42.4 billion -- up from $30.4 billion during the same period last year -- and was "primarily driven…

The Independent UK

Saudi oil giant Aramco unveils $1.5B sustainability fund

Saudi energy company Aramco has unveiled a $1.5 billion fund for sustainable investments, part of efforts to burnish the state-owned company’s green credentials

The Independent UK

Kwasi Kwarteng held undisclosed meetings with Saudi oil firms

Green MP Caroline Lucas urges chancellor to ‘come clean about dealings with Saudi oil giants’

The National (Scotland)

Documents reveal Kwasi Kwarteng's undisclosed meetings with Saudi Arabian oil firms

CHANCELLOR Kwasi Kwarteng held undisclosed meetings with senior executives of Saudi Arabian firms when he was business secretary, according to…

The Guardian - UK

Kwasi Kwarteng’s secret meetings with Saudi oil firms revealed

Exclusive: Meetings while in Saudi Arabia undisclosed due to ‘administrative oversight’, says business department

Asharq Al-Awsat

Aramco CEO: Securing Buffer Spare Capacity Not Saudi Arabia's Responsibility Alone

Saudi Aramco Chief Executive Amin Nasser on Tuesday said that spare capacity in the oil market stands at 1.5% of global demand, adding that providing a buffer of spare capacity was not the responsibility of Saudi Arabia alone. "(The market is) focusing on what will happen to demand if a…

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