The price of oil has doubled since October to more than $70 a barrel
Brent crude has gained over 30 per cent this year to top $68 a barrel
Revenue rose 24 per cent year-on-year to SAR37.5bn and 14 per cent from the previous quarter
The company is also conducting a strategic review of its upstream business
The company reshuffled its senior management last year and created a division focused on portfolio optimisation
The highest ranked Arabs originating from Saudi Arabia in Gulf Business’ annual Arab power list
The deal is part of Saudi Arabia’s drive to open up to foreign investment and use the money to diversify its economy
The buyout firm’s consortium will include US and Chinese investors
The new plan comes after the coronavirus pandemic and oil market turmoil created a double crisis for Saudi Arabia
Aramco is looking to work with China on blue hydrogen and ammonia, synthetic fuels and carbon capture utilization and storage
These strikes came after Iran-backed Houthi rebels attacked an Aramco refinery in the Saudi capital on Friday
The Public Investment Fund is raising about $15bn from a group of international banks to finance new investments
SABIC earned net income of SAR40m in 2020, down sharply from SAR5.2bn in 2019
SABIC hasn’t decided on a venue for the sale
The discussions are occurring in parallel with the sale of a stake in a pipeline unit
Saudi Aramco is continuing to work on determining the size and volume of discovered fields
The kingdom will stick to its plan to cut spending by 7.3 per cent in 2021
Aramco also increased pricing for light crude grades to the Mediterranean region
SABIC reported its biggest quarterly loss in at least a decade in the three months through June
Aramco sold $8bn in tranches maturing in three, five, 10, 30 and 50 years
The yield on Aramco’s $3bn of bonds due in 2029 has dropped to 2.09 per cent from 3.04 per cent at the start of the year
Aramco is the world’s largest oil exporter
Income still increased for the first time in five quarters as oil prices steadied
Profit rose mainly due to the reversal of SAR690m of impairments associated with Clariant AG
SABIC suspended new capital spending earlier this year as it reported losses in the first and second quarters
Japan will receive 40 tons of blue ammonia in the first shipment
Apple and Aramco are the only two companies to have achieved valuations of $2 trillion
Saudi Arabia is seeking to diversify its economy away from petroleum by building new industries
It’s also reviewing an earlier decision to buy 25 per cent of Sempra Energy’s Texas LNG terminal
Aramco said it will drill more wells to evaluate how much energy the fields hold