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Saudi Aramco Announces Pricing of $12 Billion Bond Issuance

Saudi Aramco Announces Pricing of $12 Billion Bond Issuance

April 11, 2019 No Comments

Saudi Aramco announced that it has priced an offering of $12 billion in its inaugural international bond issuance. The issuance is comprised of five tranches of senior unsecured notes under Saudi Aramco’s Global Medium Term Note Program. The tranches include: $1,000,000,000 2.750% senior notes due 2022; $2,000,000,000 2.875% senior notes due 2024; $3,000,000,000 3.500% senior […]

World’s Largest Oil Company And Petrochemical Company Merge

World’s Largest Oil Company And Petrochemical Company Merge

April 10, 2019 No Comments

The long awaited Saudi Aramco acquisition of Saudi Basic Industries Corporation (SABIC) is finally here. With a statement to the press, Aramco CEO Amin Nasser reported that Aramco has acquired a 70 percent stake in SABIC, with an estimated value of $69.1 billion. Aramco’s CEO Nasser reiterated that the “deal is a major step in […]

Arabian Rig Manufacturing

Arabian Rig Manufacturing

February 18, 2019 No Comments

Saudi Aramco and National Oilwell Varco Incorporated (NOV) recently held the first Arabian Rig Manufacturing (ARM) Board of Managers meeting. ARM is a newly formed company, a joint venture (JV) between NOV (owning 70% of the JV’s shares) and Saudi Aramco. Highlights of the meeting included the appointment of senior officials and the approval of […]

Washington Eyes Crackdown On OPEC

Washington Eyes Crackdown On OPEC

February 11, 2019 No Comments

Legislation targeting OPEC is suddenly gaining steam in the U.S. Congress, raising alarm bells for the cartel. On Thursday, the House Judiciary Committee passed a bill that would allow the U.S. Justice Department to sue members of OPEC for manipulating the oil market. The so-called “NOPEC” bill would remove sovereign immunity, exposing member countries to […]

The Saudi Dilemma: To Cut Or Not To Cut

The Saudi Dilemma: To Cut Or Not To Cut

December 4, 2018 No Comments

To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year’s December OPEC meeting. It seems like just yesterday when OPEC met in 2016 and decided to cut production by 1.8 million barrels daily, including from Russia, to reverse […]

Saudis Scramble To Stop Oil Price Slide

Saudis Scramble To Stop Oil Price Slide

November 13, 2018 No Comments

Saudi Arabia is moving quickly to halt the slide in oil prices, telegraphing a production cut intended to erase some of the re-emerging supply surplus. Saudi oil minister Khalid al-Falih said on Monday that the kingdom would slash oil exports by 500,000 bpd in December, a move that would go a long way to reversing […]

Saudi Aramco Signs 16 Contracts

Saudi Aramco Signs 16 Contracts

June 5, 2018 No Comments

Saudi Aramco signed 16 contracts with seven companies to operate and maintain facilities in its community over the next 10 years. The contracts signing took place during a ceremony in Dhahran where Saudi Aramco signed the contracts with Al-Yamama Company for Trading and Contracting; Arabian Fal Holding Company; Abdulwahab Mansour Al-Moallam Sons Company; Rezayat Company […]

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Saudi Aramco Appoints 5 New Board Of Directors

Saudi Aramco Appoints 5 New Board Of Directors

April 30, 2018 No Comments

H.E. Khalid A. Al Falih, Chairman of the Board of Directors of Saudi Aramco, has announced the appointment of five new members to the Saudi Aramco Board of Directors. The five new appointed members are: H.E. Mohammed A. Al-Jadaan, Minister of Finance. H.E. Mohammed M. Al-Tuwaijri, Minister of Economy and Planning. Mr. Peter L. Cella, […]

Saudi Aramco and Total Sign a MoU to Build Petrochemical Complex

Saudi Aramco and Total Sign a MoU to Build Petrochemical Complex

April 10, 2018 No Comments

During the official visit to Paris by Crown Prince of Saudi Arabia, HRH Mohammed bin Salman, Saudi Aramco and Total signed a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia. The complex will be integrated downstream of the SATORP refinery, a joint venture between Saudi Aramco (62.5%) and Total (37.5%) […]

Saudi Aramco announces commercial cooperation worth over $10 billion

Saudi Aramco announces commercial cooperation worth over $10 billion

March 30, 2018 No Comments

Saudi Aramco participated in the Saudi-U.S. CEO Forum held in New York to promote bilateral business and cooperation between the two countries. The Forum was scheduled to coincide with the official visit to the United States by HRH Crown Prince Mohammed bin Salman. During the Forum a number of cooperation arrangements and prospective commercial collaborations […]

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