Saudi Aramco

Chemical firm Aether Industries inks pact with Saudi Aramco Technologies

Specialty chemical manufacturer Aether Industries on Thursday said it has entered into a pact with Saudi Aramco Technologies Company to manufacture and commercialise the converge polyols technology and product line. Aether Industries has inked a letter of intent (LoI) with Saudi Aramco Technologies to this effect, according to a statement. Saudi Aramco Technologies and Aether had previously developed and validated this manufacturing process on a pre-commercial scale, Aether Industries aims to generate revenue of Rs 150-200 crore from this agreement. During the last few years, Aether has been working with Aramco on the CRAMS (Contract Research and Manufacturing Services) business model. Aether will take the same products from the CRAMS business model and commercialise and manufacture them under the Exclusive or Contract Manufacturing business model, the company added.

Saudi Aramco earned profits of $161 bn in 2022 due to high crude oil prices

Oil giant Saudi Aramco said Sunday it earned a USD 161 billion profit last year. The firm, known formally as the Saudi Arabian Oil Co., said in its annual report that higher crude oil prices propelled its profits. It made the announcement on Riyadh's Tadawul stock exchange. In 2021, Aramco declared profits of USD 110 billion, as compared to USD 49 billion in 2020 when the world faced the worst of the coronavirus pandemic lockdown, travel disruptions and oil prices briefly going negative. Benchmark Brent crude oil now trades around USD 82 a barrel, though prices had reached over USD 120 a barrel back in June. Aramco, whose fortunes hinge on global energy prices, announced a record USD 42.4 billion profit in the third quarter of 2022 off the back of that price spike. Those high prices have further strained ties between the kingdom and the United States, traditionally a security guarantor among the Gulf Arab states amid tensions with Iran. Before the midterm elections in November, t

India may split planned mega refinery into several refineries: Reports

Delays in acquiring a 15,000-acre land parcel have almost stalled the project, initially planned for 2025, and boosted costs by 36% to $60 billion, as per estimates made in 2019

BP rakes in quarterly net profit of $8.2 billion after price surge

The firm more than doubled its third-quarter profit from a year earlier to $8.15 billion and expanded its share buybacks by $2.5 billion

Saudi Aramco exec spent week in Chamoli jail, released after Rs 1k fine

Saudi Aramco's top executive spent nearly a week in a Uttarakhand jail after he was arrested in July for carrying a satellite phone without proper permission from authorities

Top headlines: AI puts in place transformation plan;BPCL divestment stalled

The carrier, which plans to induct 30 new wide-body and narrow-body aircraft, on Thursday announced 'Vihaan.AI', a comprehensive transformation plan with a detailed road map for next five years

Saudi oil giant Aramco tops own record with $48-billion profit in Q2

The company is using the windfall to reduce debt and invest in a huge expansion of its production capacity, rather than boost payouts to shareholders

Saudi Aramco profit surges to another record on bumper oil market

Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production

Saudi Arabia cuts oil flows to China while meeting other requests

State-run marketer Saudi Aramco typically doesn't provide buyers with a reason why volumes are cut

Saudi Arabia raise oil prices more than expected amid Asia rebound

The increase for July shipments resumes a streak of hikes that started in February and was only broken when state producer Saudi Aramco cut prices from record levels for this month

Adanis commit $75 million in Borouge's $2-billion IPO, says report

Seven cornerstone investors have agreed to subscribe for $570 million worth of shares in the IPO

WEF 2022: Aramco CEO warns of global oil crunch due to lack of investment

Amin Nasser said on Monday he was sticking to the target of expanding capacity to 13 million barrels per day from the current 12 million by 2027, despite calls to do it faster

Saudi Aramco weighs IPO of trading unit amid oil boom, says report

The trading unit could fetch a valuation of tens of billions of dollars, the people said, with two of them saying it could be potentially worth more than $30 billion.

Saudi Aramco profit soars 82% on high oil prices in first quarter

State-controlled Aramco made net income of $39.5 billion, up 82 per cent from a year earlier, when global energy demand was still severely suppressed by the coronavirus pandemic

Aramco's profits surge 80% in Q1 as company cashes in on global volatility

Saudi Aramco's profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and soaring oil prices

Saudi Aramco becomes world's most valuable stock as Apple shares drop

Aramco traded near its highest level on record on Wednesday, with a market capitalisation of about $2.43 trillion

Saudis cut oil prices from record highs amid Covid-19 lockdowns in China

Saudi Aramco is lowering prices for the first time in four months

Private sector lender HDFC Bank hopeful of Aramco-like MSCI inclusion

In an investor presentation, the bank has made a case for inclusion in the MSCI and FTSE indices

Hyundai, Saudi Aramco to jointly develop eco-friendly vehicle engine

Carbon neutrality can be achieved by either balancing carbon emissions with carbon removal or by cutting carbon emissions entirely

West Coast refinery could get a new home as demand for such plants revives

Renewed interest in adding refinery capacity in India owes to the long-term decline of the business in Europe; and in the short-run, the Ukraine war has been a key driver