May 07, 2021 07:40 AM IST
The refiners - Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp and Mangalore Refinery and Petrochemicals Ltd - normally buy 14.8 million-15 million barrels of Saudi oil a month.
- Apr 29, 2021 09:05 AM IST
Saudi Arabia was in discussions to sell 1% of Aramco to a leading global energy company and could sell further shares including to international investors within the next year or two, Crown Prince Mohammed bin Salman said in televised remarks on Tuesday.
- Apr 28, 2021 11:00 PM IST
If the deal is finalised, it would also be the first time when Saudi Aramco would pay for a transaction using shares.
- Apr 12, 2021 07:10 PM IST
Houthi spokesman Yahya Saree said in a statement carried by the rebels' Al-Masirah television that the strikes took place overnight, in retaliation for the six-year military campaign led by Saudi Arabia in Yemen.
- Apr 10, 2021 04:28 PM IST
EIG, which has invested more than $34 billion in energy and energy infrastructure, was the deal's underwriter and will work with Aramco in the coming days to decide on other parties for the consortium, a source familiar with the deal said.
- Mar 22, 2021 08:11 PM IST
Saudi Arabian Oil Co, the kingdom’s largest taxpayer, transferred $110 billion to the government in 2020, down from nearly $159 billion the year before. The kingdom’s 2021 budget plans to spend $263 billion, showing the significance of Aramco’s payments to state coffers.
- Mar 22, 2021 07:42 AM IST
Saudi Arabia, the world's biggest oil exporter, retained its position as China's top supplier in the first two months this year, with volumes up 2.1% to 1.86 million barrels per day (bpd), China customs data showed on Saturday.
- Mar 21, 2021 10:13 PM IST
Saudi Arabia, the world’s biggest oil exporter, retained its position as China’s top supplier in the first two months this year, with volumes up 2.1% to 1.86 million barrels per day (bpd).
- Mar 21, 2021 11:39 AM IST
Net profit fell to 183.76 billion riyals ($49.00 billion) for the year that ended December 31, from 330.69 billion riyals a year earlier.
- Mar 08, 2021 05:24 PM IST
Yemen’s Houthi forces fired drones and missiles at the heart of the Saudi oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports.
- Mar 03, 2021 11:40 AM IST
The government has blamed the rise in international rates for the spike in prices of LPG in India. The surge could push it to resume paying the subsidy on cooking gas, which was stopped after global prices fell when the pandemic began to take hold.
- Jan 28, 2021 09:32 PM IST
'There will be Aramco share offerings coming in the coming years, and this cash will be transferred to the Public Investment Fund,' said Prince Mohammed, speaking at the kingdom's Future Investment Initiative conference.
- Dec 06, 2020 04:17 PM IST
Aramco also set the January OSP of its Arab light crude oil to the United States at plus $0.55 a barrel over ASCI (Argus Sour Crude Index), down $0.30 a barrel from December, according to the document.
- Nov 30, 2020 02:55 PM IST
Saudi crude OSPs are usually released around the fifth of each month, and set the trend for Iranian, Kuwaiti and Iraqi prices, affecting more than 12 million barrels per day (bpd) of crude bound for Asia.
- Sep 29, 2020 08:13 PM IST
The Indian government - which needs funds to finance welfare schemes and bridge a fiscal deficit that has already topped the annual target - had aimed to raise $8 to $10 billion through the sale of its stake in BPCL.
- Aug 27, 2020 12:57 PM IST
Mahdi Aladel, who was previously the head of Aramco's base oils and lubricants division, will take over as CEO of Saudi Aramco Energy Ventures (SAEV).
- Aug 23, 2020 08:38 PM IST
The company's CEO Amin Nasser said that the organisation would focus on opportunities for growth in order to maximise value for Aramco's shareholders.
- Aug 11, 2020 05:21 PM IST
Billionaire Mukesh Ambani had in August last year announced plans to sell a 20 percent stake in RIL's oil-to-chemical (O2C) business to Aramco, at a valuation of $75 billion. The deal was to close by March but has been delayed
- Aug 09, 2020 02:47 PM IST
The company reported a net profit of $6.6 billion for the June quarter compared to $24.7 billion in the same period of 2019.
- Jul 31, 2020 08:50 PM IST
Shares of the company rose to a record high of $412 in early trading. Closing at that level will give it a market capitalization of $1.786 trillion.
- Jun 23, 2020 10:03 PM IST
The partnership with Aramco would give Jamnagar refineries "access to a wide portfolio of value-accretive crude grades and enhanced feedstock security for a higher oil-to-chemicals conversion," Ambani said.
- Jun 18, 2020 09:00 PM IST
Like other top oil firms, Aramco has cut capital spending for 2020 after the pandemic brought an unprecedented drop in oil demand and hammered crude prices. Oil majors have cut workforces by 10 percent to 15 percent to cuts costs and as part of restructuring plans.
- Jun 17, 2020 03:10 PM IST
The deal values SABIC at 123.39 riyals per share, 27 percent above the company's share price of 89.90 riyals, as the coronavirus outbreak has hurt demand for petrochemicals products and lowered SABIC's share price.
- Jun 15, 2020 10:25 AM IST
The cuts were mainly for medium and heavy grades, the sources with knowledge of the matter said. Three of the sources said that their July cuts was smaller than what they had received in June.
- May 29, 2020 11:40 AM IST
The U.S. investment bank, which has previously advised the world's largest oil company, was originally looking to be part of the advisory group on any deal, the sources added.