aramco

Saudi Aramco reported a 44 per cent jump in second-quarter net profit, supported by higher oil, refined products and chemicals prices

Corrosion management remains a strategic priority for Aramco, given its direct impact on operational reliability, asset integrity, workplace safety and environmental stewardship

President and chief executive Amin H Nasser said Aramco’s first-quarter performance reflects strong resilience and operational flexibility in a complex geopolitical environment

The results come at a highly volatile time for global oil markets as the US-Israeli tensions with Iran has led to a near-closure of the Strait of Hormuz

Aramco could export four to six 500,000-barrel cargoes of Jafurah condensate per month from the country’s eastern port of Yanbu

Aramco has said its unconventional gas programme at peak production is expected to generate electricity equivalent to displacing 500,000 barrels per day of oil

Earlier this year, the Saudi state oil giant had signed a memorandum of understanding with Exxon to evaluate an upgrade to the Samref refinery

The $100bn Jafurah project, estimated to contain 229 trillion standard cubic feet of raw gas, is central to Aramco’s ambitions to become a major global player in natural gas and boost its gas production capacity

The report arrives at a pivotal time as organisations seek scalable solutions to meet emissions reduction targets

According to Aramco, the tranches include $1.5bn in senior notes maturing in 2030 with a coupon rate of 4.7 per cent