Saudi state oil giant Aramco is exploring potential asset sales as a strategy to raise funds while pursuing international expansion and managing the impacts of lower crude prices. According to two sources familiar with the situation, the company has engaged investment bankers to propose ideas on how to leverage its assets for financial gain. As...
Saudi Telecom Company’s Tali Ventures and Aramco’s Wa’ed Ventures are making headlines with their joint investment in Graphiant, a technology start-up based in the United States. This investment highlights Saudi Arabia’s commitment to enhancing its digital infrastructure. The two investment arms have co-led a $19 million investment in Graphiant as part of a Series B...
Australia’s Woodside Energy announced on Wednesday that it is exploring opportunities for collaboration with Saudi Aramco, which may acquire a stake in its $17.5 billion liquefied natural gas (LNG) project in Louisiana. Following the announcement, shares in Woodside, the country’s top gas producer, surged nearly 4%. The agreement could also enable Aramco to secure LNG...
Saudi Aramco and BYD, a prominent manufacturer of energy vehicles and power batteries based in China, have announced their partnership to explore new electric vehicle (EV) technologies. The collaboration aims to enhance the efficiency and environmental performance of EVs, as stated in a joint announcement made by both companies. The agreement, which was formalized through...
Formula 1 is making a significant return to Jeddah this weekend for the fifth Saudi Arabian Grand Prix. However, the excitement is not solely focused on the fastest street circuit in the world, as plans for a new futuristic track outside Riyadh, called Qiddiya Speed Park, are underway with a budget of $480 million (£360...
Saudi Aramco has confirmed the discovery of 14 new oil and gas fields, a significant development that enhances the kingdom’s already extensive energy portfolio. This announcement was reported by Reuters, indicating that the discoveries will play a crucial role in bolstering Saudi Arabia’s position in the global energy market. The new fields are expected to...
Saudi Arabia’s state news agency has announced that the country’s oil giant, Aramco, has made significant discoveries by locating 14 new oil and natural gas fields in the Eastern Region and the Empty Quarter. This development is particularly important as many major oil producers are currently facing budget constraints due to low prices in the...
Saudi Aramco, China Petroleum & Chemical Corporation (Sinopec), and Yanbu Aramco Sinopec Refining Company (Yasref) have announced the signing of a Venture Framework Agreement (VFA) aimed at expanding Yasref’s petrochemical capabilities. The agreement, which marks a significant milestone for Yasref, is expected to enhance its global standing in the petrochemical sector and meet the growing...
Saudi Aramco, in partnership with Siemens Energy, has launched the first direct air capture (DAC) unit in Saudi Arabia. This pilot facility is designed to extract 12 tonnes of carbon dioxide from the atmosphere each year, marking a significant step in the country’s efforts to reduce greenhouse gas emissions and explore sustainable technologies. Located in...
Two major state-owned oil companies from the UAE and Saudi Arabia have announced a reduction in their benchmark crude oil prices. Saudi Aramco, recognized as the world’s leading oil exporter, has lowered its crude oil prices for Asian buyers in April for the first time in three months. This decision aligns with market expectations following...