Pins matching tag:Aramco

Saudi Aramco began trading on Riyadh's Tadawul on 11 December 2019, jumping the 10% daily limit to a value of about US$1.88 trillion, the biggest listed company in the world. Its US$25.6 billion share sale, priced a week earlier, was the largest IPO on record, ahead of Alibaba's 2014 offering.

Investors led by BlackRock's Global Infrastructure Partners take 49% of Jafurah Midstream Gas Company, which leases the Jafurah gas plant and Riyas NGL facility back to Aramco for 20 years in return for a tariff.

Aramco and the Public Investment Fund signed a non-binding term sheet for Aramco to take a significant minority stake in HUMAIN, PIF's AI company, with both pooling AI assets, capabilities and talent into it while PIF keeps the majority.

Aramco posted third-quarter adjusted net income of $28.0 billion, up from $27.7 billion a year earlier, and declared a $21.1 billion base dividend plus a $0.2 billion performance-linked payout, the last one owed on 2024's results. It also raised its 2030 sales-gas growth target to about 80% and announced plans to buy a significant minority stake in the AI company HUMAIN.

Aramco signed a preliminary agreement with Commonwealth LNG, developer of a planned 9.5 mtpa export plant near Cameron, Louisiana, on Aramco Trading potentially buying its LNG, and Aramco-backed MidOcean Energy signed an MoU on investing in Lake Charles LNG. Both were among 17 US deals Aramco announced at the US-Saudi Investment Forum in Washington.

The Middle East's largest liquids-rich shale gas play came on stream with a first phase of about 450 million cubic feet a day, the start of a ramp to 2 billion cubic feet a day of sales gas by 2030.

One of the world's largest gas plants began processing associated gas from the offshore Marjan and Zuluf fields, heading for 2.6 billion cubic feet a day of raw gas capacity in 2026, as the Marjan crude increment came on stream.

Aramco priced $4 billion of US dollar bonds in four tranches, from three to 30 years at coupons of 4% to 6%, drawing about $21 billion of orders. It was the company's first bond sale of 2026, listed in London.

A non-binding MoU for Aramco to explore industrial AI built on Microsoft Azure, a sovereign-cloud roadmap meeting Saudi data-residency rules and a global marketplace for co-developed energy AI, alongside AI, cybersecurity and data skills programmes in the Kingdom.

Debris from two intercepted drones, launched as Iran struck its Gulf neighbours, started a fire at Saudi Arabia's largest domestic refinery, a 550,000 barrel-a-day plant, and Aramco halted it as a precaution.

Aramco's board approved buying back up to 350 million of its shares, worth at most SAR 11.3 billion ($3 billion), within 18 months of 9 March 2026, to hold in treasury for its employee share plan. It is the company's first buyback; until now it returned cash only through dividends.

Aramco's 2025 net profit fell 12% to SAR 348 billion on lower oil prices, yet it raised its quarterly base dividend 3.5% to $21.89 billion and announced its first-ever share buyback, of up to $3 billion. No performance-linked dividend was declared for 2025.

Aramco's new subsidiary to run the 47,000-seat Aramco Stadium in Al Khobar launched with Fahad Al Dhubaib as chairman and Matthew Kittle as chief executive, months before the venue is due to open for the 2027 AFC Asian Cup.

Announced on stage at IBM's Think 2026 in Boston, the planned collaboration would pair IBM's AI, hybrid-cloud and consulting capabilities with Aramco's operations and data on agentic AI, automation and materials science, extending a partnership dating to 1947.

Aramco's first-quarter adjusted net income jumped to $33.6 billion from $26.6 billion as it ran the East-West Pipeline at its full 7 million barrels a day to export from the Red Sea while the Strait of Hormuz was choked off. The board held the base dividend at $21.9 billion, 3.5% up on a year earlier.

Aramco signed an agreement to transfer its stakes in the PRefChem refinery and petrochemical complex at Pengerang, Johor to PETRONAS, which will own and run it outright. Aramco committed $7 billion to the 300,000 b/d project in 2017; the sale comes as the Strait of Hormuz closure cut Saudi crude flows to Asia.

A Leonardo AW139 carrying oil workers back from Aramco's offshore fields crashed on approach to Ras Tanura at about 6 a.m., killing its two pilots and 12 passengers, all Saudi nationals.

Aramco's second-quarter adjusted net income rose 33% to $33.4 billion as prices surged with the Strait of Hormuz disrupted by the Iran war, while exports kept flowing through the East-West Pipeline. It declared a $21.9 billion base dividend; first-half adjusted profit reached $67.2 billion.

At the French-Saudi Investment Roundtable in Paris, Aramco announced a drilling-equipment procurement agreement, an oil country tubular goods purchase deal and an Aramco Digital MoU on industrial AI and digital twins, worth a potential $3.7 billion combined. It came during Crown Prince Mohammed bin Salman's visit to France.

Multiple drone attacks on the morning of 10 September 2026 damaged three pumping stations on Saudi Arabia's 1,200 km East-West oil pipeline and forced its shutdown; Riyadh blamed drones launched from Iraq, a claim an Iraqi umbrella group denied.

Aramco's third-quarter 2026 results and dividend declaration, estimated for Tuesday 3 November 2026 at about 8 a.m. Riyadh time from its pattern; the company has not announced the day. It will be measured against Q2's $33.4 billion adjusted profit and $21.9 billion base dividend.

The offshore Zuluf increment, whose associated gas feeds the new Tanajib Gas Plant, is on track for completion in 2026 after Marjan came on stream in December 2025.

The 47,000-seat, fully air-conditioned stadium Aramco is building in Al Khobar, a Populous design modelled on Gulf whirlpools, is due to open in 2026 as Al-Qadsiah FC's home and a venue for the 2027 AFC Asian Cup and the 2034 FIFA World Cup.

A 300,000 b/d refinery with 1.65 million tonnes a year of ethylene and 2 million tonnes of paraxylene in Panjin, Liaoning, built by Aramco's joint venture with NORINCO and Panjin Xincheng for RMB 83.7 billion. Aramco will supply up to 210,000 barrels a day of its crude.

S-Oil's 9.26 trillion won Shaheen complex at its Onsan refinery in Ulsan, with the world's first commercial Thermal Crude-to-Chemicals unit and a 1.8 million-tonne ethylene cracker, is due to start commercial operation in early 2027. Aramco is S-Oil's largest shareholder.

The second phase adds gas compression, new processing trains at the Jafurah Gas Plant and the Riyas NGL fractionation plant in Jubail, built under 16 contracts worth about $12.4 billion.

Around 4,000 km of new pipelines and 17 compression trains are to add 3.15 billion cubic feet a day to the network that carries gas across Saudi Arabia, built under 15 contracts worth about $8.8 billion.

NextDecade's 6 mtpa Train 4 at Rio Grande LNG near Brownsville, Texas, a $6.7 billion expansion, is due to reach substantial completion and begin deliveries under its 20-year contracts in the second half of 2030. Aramco buys 1.2 mtpa of its output, alongside ADNOC and TotalEnergies.