Multibillion Investment In Pakistan By Saudi Aramco For Refinery, Acwa Power in Renewables

PKONWEB/BE2C2 Report — Pakistan expects approx $40 billion investment by three countries (Saudi Arabia, UAE, and China) in the next three to five years, officials said on Thursday. According to these officials, Pakistan and the Kingdom of Saudi Arabia have finalized the Memorandum of Understand (MoU) for the construction of multi-billion dollar Saudi Aramco oil […]

Saudi Aramco to Go for IPO After Building Up Value-Added Downstream Assets Worldwide

BE2C2 Report (Oct 31, 2018): Saudi Arabia would likely carry out an initial public offering for Saudi Aramco in 2021 after it builds up some downstream assets including petrochemical production locally and globally, Khalid Al-Falih, the country’s energy minister, said. “If you look at the downstream of Aramco it is significant, but is not at […]

Saudi Aramco to Acquire Stake in Chinese Petrochemical Refinery

OCT 18, 2018: Saudi Aramco signed on Thursday an agreement to invest in a 400,000-bpd refinery and associated petrochemical plants in eastern China as part of Saudi Arabia’s push to expand its downstream business and secure additional markets for its oil. The Saudi state oil giant signed a memorandum of understanding with the Zhejiang province […]

Saudi Aramco IPO Plan Halted, Oil Giant Disbands Advisors

Saudi economy overall has turned a corner due to higher oil revenue and other reforms that involve boosting non-oil revenue AUG 24, 2018: Saudi Arabia has called off both the domestic and international stock listing of state oil giant Aramco, billed as the biggest such deal in history, four senior industry sources told Reuters. The […]

Saudi Aramco Separates Non-Oil From Core Oil Assets, Makes Green Energy Push Ahead of IPO

The oil giant’s Green Energy push with investments of as much as $5 billion is being seen by investors as widening the appeal of the IPO. Jun 4, 2018 (BE2C2) — Saudi Aramco has created a subsidiary to house its multibillion dollar pension fund and could spin off its aviation division, as it restructures some […]

Aramco, India $44 Billion Refinery Project Hits Snag Due To Land Acquisition Woes

Thousands Of Farmers Are Challenging India’s $44 Billion Refinery Project With Saudi Aramco May 20, 2018 (BE2C2) — Saudi Aramco last month signed an initial deal with a consortium of Indian refiners to build a $44 billion refinery and petrochemical complex on India’s west coast, as the kingdom moves to secure buyers for its crude […]

Why Aramco IPO Won’t Happen Until 2019–at the Earliest

A $1.5 Trillion Aramco IPO Could Transform Global Stocks April 22, 2018 (Irshad Salim): The debate over which international stock exchange should be the venue for listing Saudi Aramco–the world’s most valuable company, has yet to be resolved while the timing of the initial public offering (IPO) appears to have been somewhat narrowed down. The […]

Saudi Aramco Signs $10 Billion in Deals With U.S. Businesses including a Think Tank

(BE2C2) — Oil and gas field services companies and a think tank in the United States were among those involved in $10 billion in deals, the Saudi oil giant Aramco announced. Aramco took part in a bilateral business forum in New York City with chief executive officers from U.S. companies. Saudi Aramco President and CEO […]

Prime Minister Khan in the Driving Seat, Literally

Years of fiscal brinkmanship being replaced by a new strategy that’s showing some silver linings in the cloud. IRSHAD SALIM (PKONWEB Report, Islamabad) — Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan arrived in the capital here on a one-day visit on Sunday. The crown prince was accorded warm welcome by Prime Minister […]

India’s Oil Appetite is Growing, And Its Refineries Can’t Keep Up

AUG 28, 2018 (BE2C2): India will pass China by the middle of the next decade as the country with the biggest appetite for oil and its refineries can’t keep up, Wood Mackenzie found. The world renowned energy consulting group expects India will pass China as the country with the largest demand for oil by 2024, […]

Saudi, Pakistan Discuss Cooperation In Tech Education, Vocational Training

— According to a study, the technical and vocational training subsector of Kingdom’s expanding non-oil economy is estimated to be in the range of US$20 to $40 billion as an addon to its economy. — Mr. Saleh Al-Harbi, a former Saudi Aramco training professional holding PhD in Curriculum and Instructions, says authorities should concentrate on […]

Lakes Appear in Empty Quarter Desert Where Many Secrets, Resources Remain Buried Under the Sands

Last year oil giant Saudi Aramco announced it is using new technology to re-explore the Empty Quarter, which could help to bolster its proven reserves of oil and gas before the company offers its shares to the public. Jun 2, 2018 (DESPARDES/PKONWEB) — CYCLONE Mekunu has turned parts of the arid Rub’ Al-Khali desert, also […]

Saudi Arabia To Exclude German Firms From Government Tenders

May 27, 2018 (BE2C2) — Saudi Arabia has ordered that no more government contracts be awarded to German companies, in a sign of continued irritation over Berlin’s foreign policy in the Middle East, German magazine Der Spiegel and the Middle East Economic Digest (MEED) report. Citing no sources, it said the move was likely to […]

Rough Ride Ahead For Crude Oil

SYED RASHID HUSAIN (May 21, 2018) – Crude markets are entering an absorbing phase. Prices continue to hover around $80 a barrel, amid indications that prices could soar further. Yet, concerns about oil markets persist. Eminent energy analyst Daniel Yergin, once described by the then Aramco chief Khaled Al-Faleh and the current Saudi energy czar, […]

Malaysia Could Capitalize On Oil Prices

May 14, 2018 (BE2C2) — Malaysia’s new government will need to act quickly to capitalize on any economic momentum from higher crude oil prices, an analyst said. The opposition Pakatan Harapan coalition emerged as the victor in May 9 general elections in Malaysia, grabbing a majority in parliament with the 92-year-old Mahathir Mohamad, who left […]

How One American University Penetrated Saudi Arabia’s Financial Elite

JOE McGRATH — Where money meets power in this arid desert monarchy, Stanford University has sway. The U.S. institution laid groundwork decades ago for the deep ties it has constructed in Saudi Arabia. Then the network effect took over. In the kingdom’s business community, Stanford has become the ultimate brand. And as a new generation […]