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The Latest Breaking News from Aramco

Google Cloud Chief Clarifies Aramco Deal Is Not For Oil Production

Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Cloud head Thomas Kurien clarified that its deal with oil giant Saudi Aramco did not include oil production, Bloomberg reports. “We work with Aramco system integration division, not with the oil-and-gas division,” Kurian said. Google’s critics, including its employees, have claimed that providing cloud tools to oil-and-gas…

Benzinga

Google to Open Two New HQs in Saudi Arabia

American multinational technology company Google is preparing for launching two new headquarter offices in the Kingdom of Saudi Arabia. The planned offices will open in the cities of Riyadh and al-Dammam. Google also is building a data partnership with Saudi oil giant, Aramco. Google drove about SR12.2 billion ($3.25 billion)…

Asharq Al-Awsat

Aramco CEO Warns of Global Oil Crunch Due to Lack of Investment

The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green energy pressures, the head of Saudi Aramco told Reuters, adding it cannot expand production capacity any faster than promised. Amin Nasser, head of the world's largest oil…

Asharq Al-Awsat

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Aramco-style dividend is what LIC investors seek post flop debut

NEW DELHI: Disappointed by a 7.8% plunge that made for the world’s second-worst trading debut among large IPOs this year, shareholders of state-run Life Insurance Corporation (LIC) of India will be counting on a bumper dividend if government wants them to stay put.

The Times of India

Saudi oil giant Aramco reports 82% rise in quarterly profits

Investors to get $4bn in bonus shares after record earnings of $39.5bn on higher demand and crude prices

The Guardian - UK

Saudi oil giant Aramco's first-quarter profits surge 80%

Oil giant Saudi Aramco says its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and soaring oil prices following Russia’s invasion of Ukraine

The Independent UK

Saudi Aramco's First-quarter Profits Surge 80%

Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year. The state-backed company’s first-quarter earnings show a record net income of $39.5 billion, up from $21.7 billion during the same period last year. Already, resurgent economic activity and the relaxation…

Asharq Al-Awsat

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Saudi Aramco, Thailand’s PTT Sign MoU to Deepen Energy Cooperation

Saudi Aramco and Thailand’s PTT have signed a memorandum of understanding (MoU) to deepen energy cooperation in Thailand. The MoU targets the supply and trading of crude oil, petrochemicals, and liquified natural gas (LNG). It focuses on clean energy, carbon capture, and electric vehicles, and outlined potential collaboration across both…

Asharq Al-Awsat

Saudi Aramco overtakes Apple as world’s most valuable company

Soaring commodity prices swell oil giant’s profits as tech stock slide pegs back iPhone maker

The Guardian - UK

Saudi Arabia Cuts Oil Prices to Asia by More than 50%

Saudi Arabia cut oil prices for buyers in Asia as coronavirus lockdowns in China weigh on demand, countering uncertainty around Russia’s supplies as the Ukraine war drags on. Aramco is expected to cut the official selling price (OSP) for flagship Arab Light crude to Asia in June by more than…

Asharq Al-Awsat

Saudi Dussur Signs 4 Joint Ventures, Global Acquisition Deal

The Saudi Arabian Industrial Investments (Dussur) announced the signing of five new shareholders' agreements, including four joint ventures and one global acquisition deal. Dussur, owned by PIF, Aramco, and SABIC, signed the agreement at a special event attended by Minister of Energy and Investment Prince Abdulaziz bin Salman, Minister of…

Asharq Al-Awsat

US Imposes Sanctions on Key Actors in Iran’s Ballistic Missile Program

The United States on Wednesday imposed sanctions on an Iran-based man and his network of companies it accused of helping Tehran obtain materials for its ballistic missile program, acting after missile attacks by suspected Iranian-backed proxies on countries in the region. In a statement issued as talks on reviving the…

Asharq Al-Awsat

Saudi Entities Coordinate to Facilitate Issuing 'Entrepreneurship' Licenses in the Kingdom

Saudi Minister of Investment Khalid al-Falih announced that visiting Saudi Arabia in 2030 will be an opportunity for work, stability, investment, and future building. Falih indicated that the economic development in the Kingdom would lead to the development of the entire region, noting that Ministries of Investment and Commerce are…

Asharq Al-Awsat

Saudi-led coalition strikes Yemen after Aramco depot attack

A Saudi-led coalition fighting Houthi rebels in Yemen launched airstrikes against sites in the southern Arabian country in response to multiple attacks Friday, including one that caused a fire at an Aramco fuel depot in Jeddah.

Tribune News Service

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Daily Mirror

Inside F1 drivers meeting as Lewis Hamilton and three others led Saudi Arabia GP debate

Formula 1 bosses, team principals and drivers discussed whether or not to race in the Saudi Arabian Grand Prix this weekend after a missile attack nearby to the street circuit

Motorsport

F1 teams say drivers still "concerned" over Saudi GP safety

Formula 1 teams have revealed that drivers remain “concerned” over the Saudi Arabian Grand Prix following the Friday attack on the nearby Aramco facility.

Autosport

Drivers still "concerned" over Saudi Arabian GP safety, say F1 teams

Formula 1 teams have revealed that drivers remain “concerned” over the Saudi Arabian Grand Prix following the Friday attack on the nearby Aramco facility.

Asharq Al-Awsat

US Condemns 'Reckless' Houthi Terrorist Attacks on Saudi Arabia

The United States strongly condemned on Friday the Iran-backed Houthi militias' attacks on Saudi Arabia. "We strongly condemn this week’s multiple Houthi terrorist attacks on Saudi Arabia, including today’s that struck an Aramco facility in Jeddah, which is clearly civilian infrastructure," said the State Department. "At a time when the parties should be focused on de-escalation and bringing needed…

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Tribune News Service

Saudi fuel depot is hit as drone attacks escalate

DUBAI, United Arab Emirates — An oil storage facility in Saudi Arabia was hit by a barrage of drone attacks on Friday, in a marked escalation of tensions in one of the world’s most important regions for oil shipments.

Evening Standard

Saudi Arabian Grand Prix to go ahead despite ‘missile attack’ on nearby fuel plant

World champion Max Verstappen reported to his Red Bull team over the radio that he could detect the smoke

Daily Mirror

Formula 1 makes decision on Saudi Arabian GP after 'missile strike' in Jeddah

F1 chief Stefano Domenicali declared that he "feels safe" as race bosses were bullish about continuing as planned in Jeddah this weekend

Motorsport

F1 tells drivers Saudi GP will go ahead despite nearby attack

Formula 1 chiefs have made clear to teams and drivers that the Saudi Arabian Grand Prix will proceed as planned despite an attack on a nearby oil facility.

Tribune News Service

Saudi oil depot hit as kingdom thwarts drone strikes

DUBAI, UAE — An oil storage facility in Saudi Arabia was hit in a barrage of drone attacks on the kingdom on Friday, the latest flare-up in one of the world’s most important regions for oil shipments.

Autosport

F1 tells drivers Saudi Arabian GP will go ahead despite nearby attack

Formula 1 chiefs have made clear to teams and drivers that the Saudi Arabian Grand Prix will proceed as planned despite an attack on a nearby oil facility.

Al Jazeera

Saudi Aramco’s Jeddah oil depot hit by Houthi attack

Saudi Arabia announces ‘military operation’ in Yemen following series of drone and rocket attacks on the kingdom.

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