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  • India offers to lift regular Saudi oil volumes in June after May cuts: Sources May 07, 2021 07:40 AM IST

    India offers to lift regular Saudi oil volumes in June after May cuts: Sources

    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.

  • Major Chinese investors in talks to take Saudi Aramco stake: Sources Apr 29, 2021 09:05 AM IST

    Major Chinese investors in talks to take Saudi Aramco stake: Sources

    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.

  • Reliance, Saudi Aramco revive talks for cash and share stake deal: Report Apr 28, 2021 11:00 PM IST

    Reliance, Saudi Aramco revive talks for cash and share stake deal: Report

    If the deal is finalised, it would also be the first time when Saudi Aramco would pay for a transaction using shares.

  • Yemen's Houthi rebels claim strikes on Saudi oil plants Apr 12, 2021 07:10 PM IST

    Yemen's Houthi rebels claim strikes on Saudi oil plants

    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.

  • Saudi Aramco agrees $12.4 billion deal to sell stake in pipelines Apr 10, 2021 04:28 PM IST

    Saudi Aramco agrees $12.4 billion deal to sell stake in pipelines

    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.

  • Saudi oil giant Aramco reports 30% drop in payments to state Mar 22, 2021 08:11 PM IST

    Saudi oil giant Aramco reports 30% drop in payments to state

    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.

  • Saudi Aramco to prioritise energy supply to China for 50 years, says CEO Amin Nasser Mar 22, 2021 07:42 AM IST

    Saudi Aramco to prioritise energy supply to China for 50 years, says CEO Amin Nasser

    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.

  • Saudi Aramco to prioritise energy supply to China for 50 years, says CEO Mar 21, 2021 10:13 PM IST

    Saudi Aramco to prioritise energy supply to China for 50 years, says CEO

    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).

  • Saudi Aramco 2020 net profit slumps 44.4% as COVID-19 bites Mar 21, 2021 11:39 AM IST

    Saudi Aramco 2020 net profit slumps 44.4% as COVID-19 bites

    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.

  • Oil slips after hitting pandemic high above $70 after Saudi attack Mar 08, 2021 05:24 PM IST

    Oil slips after hitting pandemic high above $70 after Saudi attack

    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.

  • Explained | Why LPG prices are rising Mar 03, 2021 11:40 AM IST

    Explained | Why LPG prices are rising

    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.

  • Saudi Crown Prince Mohammed bin Salman says Aramco will launch more share sales Jan 28, 2021 09:32 PM IST

    Saudi Crown Prince Mohammed bin Salman says Aramco will launch more share sales

    '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.

  • Saudi Arabia raises official January crude price to Asia Dec 06, 2020 04:17 PM IST

    Saudi Arabia raises official January crude price to Asia

    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.

  • Saudi Arabia may raise Asia crude prices in January: Survey Nov 30, 2020 02:55 PM IST

    Saudi Arabia may raise Asia crude prices in January: Survey

    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.

  • Rosneft, Aramco unlikely to bid for India BPCL privatisation Sep 29, 2020 08:13 PM IST

    Rosneft, Aramco unlikely to bid for India BPCL privatisation

    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.

  • Saudi Aramco appoints Mahdi Aladel as CEO of venture capital arm: Report Aug 27, 2020 12:57 PM IST

    Saudi Aramco appoints Mahdi Aladel as CEO of venture capital arm: Report

    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).

  • Saudi Aramco eyes growth opportunities with new development organisation Aug 23, 2020 08:38 PM IST

    Saudi Aramco eyes growth opportunities with new development organisation

    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.

  • Aramco conducting due diligence for acquiring stake in RIL’s O2C business, says CEO Aug 11, 2020 05:21 PM IST

    Aramco conducting due diligence for acquiring stake in RIL’s O2C business, says CEO

    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

  • Saudi Aramco Q2 net profit plunges 73.4% to $6.6 billion on lower oil prices Aug 09, 2020 02:47 PM IST

    Saudi Aramco Q2 net profit plunges 73.4% to $6.6 billion on lower oil prices

    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.

  • Apple briefly overtakes Saudi Aramco to become the world's largest company Jul 31, 2020 08:50 PM IST

    Apple briefly overtakes Saudi Aramco to become the world's largest company

    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.

  • Working to complete contours of Saudi Aramco deal: Mukesh Ambani Jun 23, 2020 10:03 PM IST

    Working to complete contours of Saudi Aramco deal: Mukesh Ambani

    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.

  • Saudi Aramco cuts hundreds of jobs amid oil market downturn Jun 18, 2020 09:00 PM IST

    Saudi Aramco cuts hundreds of jobs amid oil market downturn

    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.

  • Saudi Aramco completes $69 billion SABIC stake deal, extends schedule Jun 17, 2020 03:10 PM IST

    Saudi Aramco completes $69 billion SABIC stake deal, extends schedule

    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.

  • Saudi Aramco cuts July crude supplies to at least 4 buyers in Asia: Sources Jun 15, 2020 10:25 AM IST

    Saudi Aramco cuts July crude supplies to at least 4 buyers in Asia: Sources

    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.

  • Morgan Stanley not given advisory role on Aramco pipeline sale: Sources May 29, 2020 11:40 AM IST

    Morgan Stanley not given advisory role on Aramco pipeline sale: Sources

    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.

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