Aramco CEO warns 1 billion barrels lost will slow oil market recovery
- 10-May-2026
DUBAI: The world has lost about 1 billion barrels of oil over the past two months and energy markets will take time to stabilise even if flows resume, Saudi Aramco’s CEO said on Sunday, as shipping disruptions choke traffic through the Strait of Hormuz. “Our objective is simple: keep energy flowing, even when the system […]
Saudi Aramco shuts Ras Tanura refinery after drone strike
- 02-Mar-2026
Riyadh: Saudi Arabia’s state oil giant Aramco shut its Ras Tanura refinery following a drone strike, an industry source said on Monday, after Tehran launched strikes across the region in response to the U.S.-Israeli attack on Iran. The Ras Tanura complex, on the kingdom’s Gulf coast, houses one of the Middle East’s largest refineries with […]
Saudi Aramco to sign US LNG agreements during crown prince’s visit to Washington
- 14-Nov-2025
Saudi Aramco is set to sign two U.S. liquefied natural gas supply deals with Woodside Energy and Commonwealth LNG when Saudi Arabia’s Crown Prince Mohammed bin Salman visits Washington next week, sources familiar with the matter told Reuters. The world’s largest oil exporter, Saudi Aramco, wants to become a major liquefied natural gas player, especially […]
Saudi Arabia doubles sovereign fund’s stake in Aramco
- 07-Mar-2024
Saudi Arabia transferred an 8% stake in Aramco to companies owned by the sovereign Public Investment Fund, as the kingdom reorganises its holdings ahead of a potential public offering in the oil giant. The stake is worth roughly $163.6 billion, according to Aramco’s current market capitalisation, LSEG data shows. Saudi Arabia is poised to sell […]
Saudi Arabia to supply full oil volumes to Asia in August
- 11-Jul-2023
Saudi Aramco has informed some clients in North Asia they will receive full nominated volumes of crude oil in August, several sources with knowledge of the matter said on Tuesday, while top buyer China once again requested for less supply. The world’s biggest oil exporter last week said it would extend its 1 million barrels-per-day […]
Aramco, TotalEnergies sign $11 billion contract
- 24-Jun-2023
Aramco and TotalEnergies today awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion “Amiral” complex, a future world-scale petrochemicals facility expansion at the SATORP refinery in the Kingdom of Saudi Arabia. A signing ceremony took place in Dhahran attended by Amin H. Nasser, Aramco President and CEO, and Patrick Pouyanné, TotalEnergies Chairman and […]
Aramco discovers two new Saudi gas fields
- 01-Dec-2022
Saudi Arabia’s energy minister said Saudi Aramco had discovered two new natural gas fields, Awtad and AlDahna, in the country’s eastern region, state news agency SPA reported on Wednesday. Awtad was discovered southwest of the Ghawar field, and gas flowed from one well, Awtad-108001 well at a rate of 10 million standard cubic feet daily, […]
Saudi Aramco posts 39% jump in third-quarter profits
- 01-Nov-2022
Saudi Aramco on Tuesday posted a 39-percent jump in third-quarter profits year on year, the latest financial results boosted by higher oil prices resulting largely from Russia’s invasion of Ukraine. The announcement came as the OPEC+ cartel of oil producers was set to implement production cuts that have drawn the ire of the United States, […]
Saudi Aramco launches $1.5 bln fund to support energy transition
- 26-Oct-2022
Oil giant Saudi Aramco launched a $1.5 billion fund to support an inclusive global energy transition on Wednesday while Saudi officials said the switch from hydrocarbons could take decades, necessitating continued investment in conventional resources. Saudi Arabia, the world’s top oil exporter, and fellow OPEC producers have warned of underinvestment in fossil fuels especially while […]
‘The world is facing a major oil supply crunch’
- 24-May-2022
The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green energy pressures, the head of Saudi Aramco told Reuters, adding it cannot expand production capacity any faster than promised. Amin Nasser, head of the world’s largest oil producer, said on Monday he […]