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Financials and Investment News in Saudi Arabia

Aramco Hosts a Large Number of Media Delegation for a Site Visit at Khurais & Abqaiq Facilities
9/21/2019 - Saudi Aramco organized a comprehensive media tour for more than 80 international, regional and local journalists representing various top tier media organizations at two of its oil & gas processing fa...
Oil Price after Armco’s Attacks
9/15/2019 - Oil prices could spike when markets open Monday as Saudi Arabia scrambles to repair damage to its energy infrastructure inflicted. About 5.7 million barrels a day of crude oil and gas production have ...
Incidents at Abqaiq and Khurais
9/14/2019 - Saudi Aramco emergency crews contained fires at its plants in Abqaiq and Khurais, as a result of terrorist attacks with projectiles. These attacks resulted in production suspension of 5.7 million barr...
Aramco Reports First Half 2019 Net Income of $46.9 Billion
8/12/2019 - Saudi Aramco announced for the first time its half-year financial results. The Company’s net income was $46.9 billion for the first half 2019, compared to $53.0 billion for the same period last year. ...
Marubeni Corporation Finalizes Project Finance Agreement
5/17/2019 - Marubeni Corporation (hereinafter “Marubeni”) is pleased to announce that in April 2019, Shuqaiq Three Company For Water, owned by Marubeni, Acciona Agua S.A. (hereinafter “Acciona”), Abdul Latif Ja...
Aramco Picks Banks for SABIC Debt Financing
2/14/2019 - Saudi Aramco has selected banks to arrange its first international debt sale which will help it finance the acquisition of a stake in Saudi Arabian Basic Industries Corp (SABIC), a source familiar wit...
Aramco IPO Halted, Oil Giant Disbands Advisers
8/22/2018 - Saudi Arabia has called off plans for the domestic and international listing of state oil giant Aramco, billed as the biggest stock flotation in history, four senior industry sources said. ...
Saudi Aramco Rrebalances its Asia Crude Oil Benchmark
7/4/2018 - Saudi Aramco announced that it is adjusting its Asia crude oil pricing marker in an effort to increase the overall reliability of its crude oil pricing. ...
ADES Secures $140 million Standby Credit Facility
5/24/2018 - ADES International Holding Ltd., the London-listed Company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries, has secur...
Oil Prices Rise on Supply Cuts & Political Tensions in Saudi Arabia
Oil Prices Rise on Supply Cuts & Political Tensions in Saudi Arabia 11/14/2017 - Last week, the WTI benchmark rose $2 to more than US$57 per barrel — its highest level since mid-2015. While OPEC and other contributing non-OPEC members plan to extend oil production cuts through 201...
Saudi Seeks $500B Business Zone with Jordan, Egypt
10/31/2017 - The International Monetary Fund has endorsed an ambitious Saudi Arabian plan to build a $500-billion business and industrial zone extending into Jordan and Egypt, saying the project could benefit the ...
Saudi and Iraq Satisfied with Oil Market Recovery
10/22/2017 - Saudi Arabia and Iraq expressed satisfaction with the orientation of the global oil market towards recovery as a result of a deal to boost prices by limiting production, Saudi state media reported. ...
Saudi Arabia Favours New York for Aramco Listing Despite Risks
8/11/2017 - Saudi Arabia favours New York for the main foreign listing of state oil giant Aramco, even though some financial and legal advisers have recommended London as a less problematic and risky option, peop...
Saudi Kayan Secures $1.2B Loan to Repay Maturing Debt
8/8/2017 - Saudi Kayan Petrochemical Co said it had secured a $1.2 billion Islamic loan from National Commercial Bank (NCB) to help repay a previous facility with the lender that matures next week. ...
Saudi's SWCC Gets Bids to Advise on Desalination Scheme Privatisation
8/1/2017 - Several banks have submitted bids to Saudi Arabia's Saline Water Conversion Corporation (SWCC) to advise on the privatisation of its $7.2 billion Ras Al Khair desalination and power plant, banking sou...
SAP Partners with Saudi Aramco to Create Digital Business Marketplace
7/18/2017 - SAP is partnering with Saudi Aramco in creating a new solutions platform to enable Saudi Aramco to launch a digital business marketplace with thousands of Saudi Aramco buyers and suppliers in partners...
Saudi Aramco Drilling Co Seen Starting Commercial Operations in Q3
7/13/2017 - The Saudi Aramco Nabors Drilling Co (SANAD) joint venture is expected to start commercial operations in the third quarter of this year, Saudi Aramco said in its weekly magazine, the Arabian Sun. *Saud...
Saudi Arabia to Switch Crude Oil Pricing for European Refiners
4/4/2017 - Saudi Arabia is to tweak the benchmark it uses to sell its crude in Europe, in a concession to refiners in the region that have long complained about their ability to hedge using the current measure. ...
Saudi Aramco Formally Appoints Banks to Advise on Share Sale
3/30/2017 - Saudi Aramco has formally appointed JPMorgan Chase & Co (JPM.N), Morgan Stanley (MS.N) and HSBC (HSBA.L) as international financial advisers for its initial public offering, sources familiar with the ...
Saudi Arabia Sweetens Huge Aramco IPO with Tax Cut
3/28/2017 - Saudi Arabia's government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company's initial public offer of shares next year, which is expected to be the world's largest e...

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