Saudi Aramco shares open at 37 riyals on third day of trading

Sunday, 15 December 2019

Saudi Aramco’s shares rose nearly 1 percent to 37.10 riyals ($9.89) at open on Sunday, giving the energy firm a valuation of $1.98 trillion on its third day of trading. Investors and market participants around the world have been watching Aramco’s stock with peeled eyes as the oil giant flirts with the $2 trillion valuation, which has been a target for the Saudi Arabian government. The company breached the symbolic mark several times during Thursday, before closing with a market cap ...

French petrol stations well supplied, all refineries operating: Ministry

Friday, 13 December 2019

The French government said on Friday that all the country’s refineries were operating and petrol stations were well supplied, and denied French press reports about fuel shortages caused by a nationwide protest movement against pension reform. “All French refineries are operating normally and only two have experienced some temporary problems with shipping their output this morning,” the environment ministry said in a statement. It added that this ...

Saudi Aramco touches $2 trillion mark amid strong investor demand on day two

Thursday, 12 December 2019

Saudi Aramco’s shares ended their second day about 15 percent higher than the company’s IPO price, and fetched the oil giant a valuation of $1.96 trillion, in a clear sign that investor demand remained strong after a recordbreaking listing on Wednesday. Shares of the company closed up 4.6 percent at 36.80 riyals ($9.81) after hitting a session high of 38.70 riyals, which valued the company at over $2 trillion, earlier on Thursday. More than 414 million shares valued at 15 billion ...

Oil markets will be oversupplied despite latest OPEC+ deal: IEA

Thursday, 12 December 2019

Global crude oil inventories could rise despite a deal between OPEC and its crude exporting allies to deepen output cuts, the International Energy Agency (IEA) said in a report on Thursday.“Despite the additional curbs and a reduction in our forecast of 2020 non-OPEC supply growth to 2.1 million barrels per day (bpd), global oil inventories could build by 700,000 bpd in Q1 (first quarter) 2020,” the report said.Last week, the OPEC and its allies, known as OPEC+, took financial ...

Saudi Arabian exchange drops even as Aramco hits $2 trillion valuation

Thursday, 12 December 2019

Saudi Arabia’s main index fell in morning trading on Thursday even as Saudi Aramco’s stock soared over 9 percent on its second day of trading to hit the $2 trillion mark.TASI - the all share index - was down 0.3 percent as Aramco traded at 38.40 riyals per share, up from its Wednesday closing of 35.20 riyals.Aramco was the top percentage gainer and the most traded stock on the market.“Interest in Aramco is still high as evidenced by the 300 million shares traded as of ...

Saudi Aramco pushes over $2 trillion valuation

Thursday, 12 December 2019

Saudi Aramco’s stock price shot up to 38.7 riyals ($10.32), pushing the company’s valuation to $2.06 trillion on Thursday, hitting the target envisioned by Saudi Arabian authorities, as the oil giant begins its second day of trading on the Saudi Stock Exchange (Tadawul). The company’s valuation dipped below the $2 trillion mark after opening before recovering in late morning trade. The company began trading on the Tadawul Wednesday following its record-breaking initial public ...

OPEC’s November output fell by 193,000 barrels per day

Wednesday, 11 December 2019

The Organization of Petroleum Exporting Countries’ (OPEC) crude oil output fell by 193,000 barrels per day (bpd) to 29.55 million bpd in November compared to October, it said in a report on Wednesday, citing secondary sources.This was mainly due to lower production in Saudi Arabia, Angola, Iraq and Iran, the report added.Saudi Arabia, which is the largest crude oil exporter in the world, produced 9.89 million bpd in November, down 412,000 bpd from October.At the same time, supply from ...

Aramco moves towards $2 trillion valuation after first day trading

Wednesday, 11 December 2019

Saudi Aramco’s shares closed at 35.2 riyals ($9.39) per share, with the company reaching a valuation of $1.88 trillion, bringing it closer to the $2 trillion valuation initially targeted by Saudi Arabian authorities. The company’s shares shot up to hit the 10 percent fluctuation limit on the Saudi Stock Exchange (Tadawul) at opening and stayed there for the remainder of the trading session. Aramco was the biggest boost to Saudi Arabia’s main index, which rose 0.83 percent. More ...

Market reaction to Saudi Aramco listing ‘far better than expected’: Analysts

Wednesday, 11 December 2019

Saudi Aramco’s initial public offering has gone far better than expected, analysts told Al Arabiya English on Wednesday.Saudi Aramco’s share price shot up to 35.2 riyals ($9.39), the maximum permitted by the 10 percent fluctuation limit, almost immediately when it began trading on the Saudi Stock Exchange (Tadawul) on Wednesday, valuing the company at $1.88 trillion, dwarfing any other company in the world.“The market reaction on day one has been far better than expected,&rdquo ...

Saudi Aramco shares open at 35.2 riyals, valuing it at $1.88 trillion

Wednesday, 11 December 2019

Saudi Aramco’s shares soared to hit the 10 percent limit to reach 35.2 riyals ($9.39) per share on its trading debut on Wednesday, giving the oil giant a valuation of $1.88 trillion, and making it the most valuable company in the world ahead of Apple Inc, and the five largest energy majors.   Shares worth more than 750 million riyals ($200 million) had exchanged hands by 11:28 Saudi Arabia time. Should Aramco's share price gains hold on Wednesday, the company could reach a $2 trillion ...

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