Saudi Aramco

Saudi Aramco

Saudi Aramco is a state-owned petroleum and natural gas company.

Saudi Aramco is a state-owned petroleum and natural gas company that is headquartered in Dhahran, Suadi Arabia and was founded in 1930. The company is owned by the government of Saudi Arabia and is also known as the Saudi Arabian Oil Company.

Funding

Initial public offering (IPO)

On December 11, 2019 Saadi Aramco held their initial public offering (IPO) raising $25.6 billion.

Acquisitions

SABIC

On March 27, 2019 Saudi Aramco announced acquiring SABIC (Saudi Basic Industries Corp), a diversified manufacturing company, for $69.1 billion. The purchase was made in an attempt for the government of Saudi Arabia to diversify the countries economy and reduce its dependence on oil.

ARLANXEO

On August 8, 2018 Saudi Aramco announced acquiring a ARLANXEO, a company making synthetic rubber, for $1.6 billion. Abdulaziz al-Judaimi, the Senior Vice President of Downstream of Saudi Aramco, made the following statement about the acquisition:

The proposed purchase underscores Saudi Aramco’s strategy to further diversify our downstream portfolio and strengthen our capabilities across the entire petroleum and chemicals value chain.

Timeline

December 17, 2019

Saudi Aramco completes the acquisition of 17% of Hyundai Oilbank from Hyundai Heavy Industries Holdings through its subsidiary Aramco Overseas Company B.V. (AOC), for approximately US$1.2 Billion.

November 25, 2019

Saudi Aramco's Initial Public Offering (IPO) retail subscription reaches 21.77 billion Saudi riyals ($5.8 billion).

September 30, 2019

Saudi Aramco plans to pay base dividend of $75 billion in 2020.

September 18, 2019

Saudi Aramco completes the acquisition of Shell Saudi Arabia Limited's 50% interest in the SASREF joint venture for $631 million.

January 3, 2019

Saudi Aramco completes acquisition of ARLANXEO joint venture from LANXESS.

People

Name
Role
LinkedIn

Abdul Jendi

Employee

Dr. Mishal Al-Harbi

Employee

Faisal Al Faqeer

Employee

Jamal Al-Dabal

Employee

JAMES R. MARTIN, SCM Supply Management Consultant

Employee

kattanh3

Employee

Keith M Fernandez

Employee

Laura Klemme

Employee

Marwan Al-Faleh

Employee

Mishal Alshuwaikhat

Employee

Percy Price, PMP®

Employee

Salman Al-Naaim

Employee

Waleed Mubarak

Employee

Yaagoub Yousef AlNujaidi

Employee

Further reading

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Documentaries, videos and podcasts

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Companies

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News

Title
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Reuters Editorial
May 21, 2020
IN
Saudi Aramco&#039;s <2222.SE> shipping arm Bahri has put on hold its plans to charter up to 12 liquefied natural gas (LNG) tankers from 2025, following a delay in a decision to go ahead with a large export project in Texas, two sources said.
Saeed Azhar
May 11, 2020
IN
Saudi oil giant Aramco may cut its dividend to the Saudi government, but is likely to maintain payouts to minority shareholders as a plunge in crude prices shrinks first-quarter profits, analysts said.
Hadeel Al Sayegh
May 10, 2020
IN
Saudi Aramco is looking to restructure its deal to acquire a controlling stake in petrochemicals maker SABIC after a more than 40% drop in SABIC's value following a slump in oil prices in coronavirus pandemic, two sources told Reuters.
Matthew Taylor
April 29, 2020
the Guardian
Saudi Aramco's Ras Tanura oil refinery and terminal. The company has produced lmost 5% of all global emissions since 1965. Photograph: Ahmed Jadallah/Reuters
Reuters Editorial
April 28, 2020
IN
India's Reliance Industries Ltd will consider a rights issue at its board meeting on April 30, in what would be its first such issue in nearly three decades, the oil to retail conglomerate said in an exchange filing late on Monday.
Reuters Editorial
April 17, 2020
IN
Saudi Aramco has allocated around 4 million barrels per day of crude oil to its Asian customers, which is lower than its full contractual volumes to Asia by about 2 million bpd, a Saudi oil source familiar with the company's plans told Reuters on Friday.
Reuters Editorial
April 17, 2020
IN
Saudi Arabia, the world's largest oil exporter, has notified some refiners in Asia that it will supply full contractual volumes of crude in May, three sources with direct knowledge of the matter said on Friday.
April 15, 2020
Firstpost
Stock Market Today LIVE Updates: Sensex soars above 770 points, Nifty crosses 9,200-mark; Rupee opens high Watch LIVE News, Latest Updates, Live blog, Highlights and Live coverage online at firstpost.com.
Ron Bousso
April 15, 2020
U.S.
Saudi Aramco has offered oil refineries in Asia and Europe the option to defer payments for crude cargo deliveries by up to 90 days as plants struggle with shrinking demand, sources said.
Yousef Saba
April 14, 2020
U.S.
Saudi Aramco, the world's largest oil producer, is in early talks with banks for a loan of about $10 billion to help finance its acquisition of a 70% stake in Saudi Basic Industries Corp (SABIC), according to three banking sources.
Reuters Editorial
April 5, 2020
IN
Saudi Aramco has appointed Mark Weinberger to its board of directors as an independent board member, replacing Andrew Gould, the company said in a statement on Sunday.
Shu Zhang
April 2, 2020
IN
Asian refiners have called on Saudi Arabia to slash the official selling prices (OSP) of its crude for a third straight month in May, after Middle East benchmarks and refining margins dropped amid ample supplies and lower demand due to the coronavirus.
Bloomberg
March 30, 2020
@bsindia
Aramco may need to raise cash this year as it confronts a historic rout in oil prices and a burgeoning list of spending obligations.
Reuters Editorial
March 27, 2020
IN
Unipec, the trading arm of Asia's largest refiner Sinopec, has decided against lifting more Saudi crude in April after freight rates surged, three sources familiar with the matter said.
Reuters
March 16, 2020
@bsindia
Leading OPEC producers Saudi Arabia and Abu Dhabi have said they will increase output while cutting prices, giving big consumers the chance to fill up at discounted prices
Rania El Gamal
March 16, 2020
IN
Saudi Aramco said on Monday it was likely to sustain higher oil output planned for April through into May, and that it was "very comfortable" with a price of $30 a barrel.
Associated Press
March 15, 2020
Boston Herald
DUBAI, United Arab Emirates -- Oil giant Saudi Aramco said Sunday its profits dropped 20% in 2019 to $88.2 billion, a sharp decline coming as the kingdom stands ready to flood an already-weakened global energy market amid the new coronavirus pandemic.
Reuters Editorial
March 15, 2020
IN
Saudi Arabia&#039;s state-run oil giant Saudi Aramco <2222.SE> announced a drop in its 2019 profit of nearly 21% on Sunday, falling well below analysts&#039; expectations just three months after selling shares to the public in a record-setting IPO.
March 15, 2020
The Economic Times
Aramco posted a net profit of 330.69 billion Saudi riyal ($88.11 billion) after zakat and tax.
Saeed Azhar
March 15, 2020
U.S.
Oil giant Saudi Aramco <2222.SE> on Sunday posted a 21% decline in 2019 net profit due to a drop in oil prices and production, and said it plans to &quot;rationalize&quot; capital spending in the wake of the coronavirus outbreak.
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References

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