Tag Archive

Saudi Aramco and Sempra Energy sign a heads of agreement (HOA)

Saudi Aramco and Sempra Energy sign a heads of agreement (HOA)

May 22, 2019 No Comments

Sempra Energy (NYSE:SRE) and Saudi Aramco today announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement (HOA). The HOA anticipates the negotiation and finalization of a definitive 20-year liquefied natural gas (LNG) sale-and-purchase agreement (SPA) for five million tonnes per annum (Mtpa) of LNG offtake from Phase 1 […]

Sabotage incident targeted Saudi Aramco facility

Sabotage incident targeted Saudi Aramco facility

May 15, 2019 No Comments

Saudi Aramco responded to a fire at East West Pipeline Pump station 8 which was caused by a sabotage incident using armed drones which targeted pump stations 8 and 9. As a precautionary measure, the Company temporarily shut down the pipeline, and contained the fire which caused minor damage to pump station 8. Saudi Aramco […]

Saudi Aramco participates at ‘Future Projects Forum’

Saudi Aramco participates at ‘Future Projects Forum’

April 18, 2019 No Comments

More than 600 upcoming Saudi Arabia construction projects worth $130 billion (SR500 billion) were presented to approximately 1,500 contracting professionals at the Middle East’s first and largest contracting forum held in Riyadh recently. Saudi Aramco was an active participant, and one of several leading companies, as well as government organizations, presenting their contracting projects at […]

Saudi Aramco to acquire stake in Hyundai Oilbank

Saudi Aramco to acquire stake in Hyundai Oilbank

April 15, 2019 No Comments

The Saudi Arabian Oil Company (Saudi Aramco) and Hyundai Heavy Industries Holdings today announced that they have reached an agreement for Saudi Aramco’s subsidiary, Aramco Overseas Company B.V (AOC), to purchase a 17% stake in South Korea’s Hyundai Oilbank, a subsidiary of Hyundai Heavy Industries Holdings. The investment is valued at approximately $ 1.25 billion. […]

Aramco Trading signs Supply Agreement with “PKN Orlen”

Aramco Trading signs Supply Agreement with “PKN Orlen”

April 11, 2019 No Comments

Aramco Trading expands collaborations in key European markets by signing Supply Agreement with “PKN Orlen”, Poland’s leading oil refiner. Agreement highlights Saudi Aramco’s commitment to the Polish market and its strategy to enhance the integration of its downstream network in Europe. Saudi Aramco is expanding collaborations in key European markets to produce critical feedstock for […]

Saudi Aramco to acquire 70% majority stake in SABIC

Saudi Aramco to acquire 70% majority stake in SABIC

April 2, 2019 No Comments

Saudi Aramco announced the signing of a share purchase agreement to acquire a 70% majority stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia, in a private transaction for SAR 259.125 billion (or SAR 123.39 per share), which is equivalent to USD $69.1 billion. The remaining 30% publicly traded […]

Saudi Aramco CEO addresses IPTC in Beijing

Saudi Aramco CEO addresses IPTC in Beijing

March 27, 2019 No Comments

Addressing the International Petroleum Technology Conference (IPTC) in Beijing on March 26-28, Saudi Aramco President and CEO Amin H. Nasser said that despite the energy industry facing a “crisis of perception”, it is undergoing major transformation thanks to technological breakthroughs which help energy companies meet growing energy demand more efficiently. Nasser said these misperceptions – […]

Saudi Aramco and McDermott sign lease agreement

Saudi Aramco and McDermott sign lease agreement

March 27, 2019 No Comments

Saudi Aramco today signed a land lease agreement with McDermott Arabia Company, Ltd., a wholly-owned subsidiary of McDermott International, Inc. (NYSE: MDR), to grant McDermott a lease to establish a fabrication facility located within the King Salman International Complex for Maritime Industries in Ras Al-Khair, Saudi Arabia. This is pursuant to a Memorandum of Understanding […]

Aramco unveils new ‘Fourth industrial revolution center’

Aramco unveils new ‘Fourth industrial revolution center’

March 21, 2019 No Comments

At Aramco’s premises in Dhahran, a remodeled and vastly expanded office wing has been converted into a 4IR Center, where technological and digital innovation is, in turn, transforming the way in which the company runs its operations. In a global economy that is increasingly leveraging the opportunities afforded by what is known as the ‘Fourth […]

Aramco shows innovation and technology leadership at  CERAWeek 2019

Aramco shows innovation and technology leadership at CERAWeek 2019

March 20, 2019 No Comments

Saudi Aramco’s leading role in energy innovation was on full display at CERAWeek 2019 in Houston as the company’s technology strategists and researchers discussed their latest solutions and spoke about the path forward for new technologies to drive sustainability in the industry. Saudi Aramco chief technology officer Ahmad O. Al-Khowaiter spoke on a panel called […]

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