Saudi energy minister says Aramco IPO could still happen in 2018

Friday, 23 March 2018

Saudi Arabia may still move forward with an initial public offering (IPO) for state oil company Saudi Aramco on an international exchange such as London or New York in the second half of 2018, despite previously raising doubts it could be delayed to next year, Saudi Energy Minister Khalid al-Falih said on Thursday. Falih told Reuters in an interview in Washington the oil giant could be floated either domestically or internationally late this year. New York is still in the running for the IPO ...

Saudi Aramco signs preliminary gas deal with Shell

Thursday, 8 March 2018

State oil giant Saudi Aramco signed a preliminary deal to pursue international gas opportunities with Royal Dutch Shell on Thursday as part of top crude exporter Saudi Arabia’s diversification drive before the listing of Aramco. The memorandum of understanding (MoU) signed in London between the two companies was during the official visit of Saudi Crown Prince Mohammed bin Salman to Britain, and would include gas upstream and liquefaction projects. “It is a discussion that began ...

Novatek seeks Saudi Aramco as partner in Arctic LNG-2

Thursday, 22 February 2018

Novatek is interested in Saudi Aramco joining the Arctic LNG-2 plant as a partner, the Russian gas producer’s head Leonid Mikhelson said on Thursday, highlighting growing ties between Russia and Saudi Arabia. Both countries have been instrumental in implementing a global pact on cutting oil production by almost 1.8 million barrels per day. Novatek and its partners started producing liquefied natural gas at the Yamal LNG project last year. Novatek is headed by Mikhelson, who is ranked as ...

Saudi archaeological treasures on show at top Tokyo museum

Monday, 29 January 2018

The Tokyo National Museum is hosting an important exhibition, ‘Roads of Arabia: Archaeological Treasures of Saudi Arabia’. Since ancient times the Arabian Peninsula has been intersected by trade routes, acting as crossroads of diverse peoples and civilizations. This exhibition will for the very first time in Japan display treasures from the Kingdom of Saudi Arabia that reveal a dynamic history and culture. More than 400 invaluable cultural properties will be displayed, including ...

Saudi Aramco signs crude-to-chemicals technology pact

Thursday, 18 January 2018

Saudi Aramco signed a deal on Thursday with two US firms for pilot use of their technologies to convert crude oil to chemicals, helping the state company expand its petrochemical business. Aramco wants to develop its downstream business as the government prepares to sell up to 5 percent of the world’s largest oil firm in an initial public offering (IPO) this year. The agreement with CB&I and Chevron Lummus covers “technology that will directly convert crude oil into ...

Bankers invited to Saudi Arabia to pitch for Aramco listing roles

Monday, 8 January 2018

Saudi Aramco has invited banks pitching for roles in its stock market listing, including Citi and Goldman Sachs, for meetings in the kingdom in the coming weeks to make their case, according to three banking sources familiar with the matter. The meetings are an indication that preparations for a 2018 initial public offering, which could be the biggest IPO in history, are progressing despite market speculation it could be delayed or even shelved. Executives from Citi, Goldman and Deutsche Bank, ...

Saudi Aramco shipyard joint venture appoints CEO

Saturday, 30 December 2017

Saudi Aramco and its partners have appointed Fathi K. Al-Saleem as chief executive of a joint venture to build a shipyard on the kingdom’s east coast, part of the Saudi Arabian government’s drive to diversify the economy beyond oil. The state-owned oil giant said in a statement on Friday that International Maritime Industries (IMI) had been officially launched in partnership with National Shipping Co of Saudi Arabia (Bahri), engineering firm Lamprell Plc, and South ...

Saudi Aramco signs $10.4 bln worth of MOUs to boost manufacturing

Wednesday, 13 December 2017

Saudi Aramco signed on Wednesday agreements with foreign and local companies worth at least 39 billion riyals ($10.4 billion).The bulk of the memorandum of understanding agreements were part of a drive to promote local manufacturing, the company said.One agreement was also signed with drilling and oil service company Schlumberger worth 6 billion riyals.

Saudi Aramco to host ‘iktva’ supply chain forum with focus on SMEs

Monday, 11 December 2017

Saudi Aramco will host a forum for key suppliers on Tuesday and Wednesday in the eastern city of Dhahran.Titled the “iktva SME Forum & Exhibition,” the forum is Saudi Aramco’s principal engagement event with valued suppliers who form our energy sector ecosystem, a statement has read.Iktva is Saudi Aramco's In-Kingdom Total Value Add initiative, and the forum aims to highlights the importance of “small and medium-sized enterprises (SMEs) in driving value creation and ...

Saudi Arabia’s SABIC looking at investing in US

Wednesday, 6 December 2017

Petrochemicals company Saudi Basic Industries Corp is considering several possible investments in the United States, while state oil giant Saudi Aramco is looking at gas prospects abroad, Saudi energy minister said on Wednesday. However, Saudi Aramco’s interest in gas investments is closer to home, probably in Africa or the Mediterranean, Khalid al-Falih told reporters on the sidelines of an industry conference in Abu Dhabi. “SABIC ... is looking at multiple investments in the US, ...

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