Aramco

The world’s top oil exporter, Saudi Arabia, raised on Thursday the prices of all its crude oil that will go to the United States and Europe in March while leaving unchanged the official selling prices of its crude to its key market in Asia.

Energy giant Saudi Aramco on Tuesday posted a 44.6 per cent slump in third-quarter profit, as the coronavirus pandemic weighs heavily on demand for crude oil.

Just two years after becoming the first U.S. company to reach a $1 trillion market capitalization, Apple has officially doubled its value to $2 trillion. The remarkable feat means it’s tied with a non-tech firm for bragging rights as the world’s most valuable company — for now.

Energy giant Saudi Aramco said on Sunday its second-quarter profits plunged a massive 73 percent due to sharply lower oil prices as the coronavirus crisis undercuts global demand.

Saudi Arabian state oil giant Aramco on Tuesday reported a 25 percent fall in first-quarter net profit, hurt by lower oil prices and coronavirus.

Before the novel coronavirus pandemic hit the globe, Nigeria spent 42 per cent of her earnings on debt servicing. We have arrived at a new reality today: even if we devote 100 per cent of our income to rebuilding our economy, it still will not be enough.

Oil prices rose on Thursday but pared early gains as investors tried to assess how effective massive stimulus by central banks will be in shoring up the global economy as the shock from the coronavirus pandemic deepens.

Stock markets in the energy-rich Gulf states made a strong rebound in opening trade Tuesday, led by the Saudi bourse which jumped 5.6 percent, as oil prices bounced after heavy losses.

Saudi Aramco said on Wednesday a new agreement between Saudi Arabia and Kuwait has paved the way for the resumption of oil production in a zone shared between the two countries.

John Quincy Adams once said “there are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” He may have very well been referring to Nigeria of the last three years.

Saudi Aramco shares surged the maximum permitted 10% above their initial public offering (IPO) price on their Riyadh stock market debut on Wednesday, closing in on the $2 trillion valuation long sought by Saudi Crown Prince Mohammed bin Salman.

Saudi Aramco’s multibillion-dollar share sale, likely the biggest initial public offering (IPO) in history, is officially underway after the company formally announced its plans to list stock on the Kingdom’s stock exchange, the Saudi Tadawul.

Saudi Arabia on Sunday put a value of up to $1.71 trillion on energy giant Aramco in what could be the world’s biggest IPO, but missed Crown Prince Mohammed bin Salman’s initial target of $2 trillion.

From tapping lenders to selling personal assets, Saudis are scrambling to raise cash to invest in Aramco stocks after the oil giant announced its blockbuster market debut even as it offered few listing details, according to AFP reports.

Saudi Aramco’s multibillion-dollar share sale, likely the biggest initial public offering (IPO) in history, is officially underway after the company formally announced its plans to list stock on the Kingdom’s stock exchange, the Saudi Tadawul.

Saudi Aramco said Sunday it will list on the Riyadh stock exchange in what could be the world’s largest IPO, underpinning Crown Prince Mohammed bin Salman’s ambitions to overhaul the kingdom’s oil-reliant economy.

President Muhammadu Buhari has met with the United States’ Treasury Secretary, Steven Mnuchin, to request for additional capital from the US development finance institutions to upgrade critical infrastructure in Nigeria.

President Muhammadu Buhari on Thursday met behind closed doors with Crown Prince of the Kingdom of Saudi Arabia, Mohammed bin Salman bin Abdulaziz, in Riyadh, Saudi Arabia.

President Muhammadu Buhari Wednesday in Riyadh welcomed the commitment of Saudi energy company, Aramco, and Public Investment Fund (PIF) to explore areas of collaboration for investments in Nigeria, including partnership with the NNPC to revive the nation’s refineries.

President Muhammadu Buhari Wednesday held talks with King Salman in Riyadh, on the sidelines of the second day of the Future Investment Initiative (FII) conference, during which both leaders committed to deeper partnership for the development of both countries.

Saudi Aramco aims to announce the start of its initial public offering (IPO) on Nov. 3, three people with direct knowledge of the matter told Reuters, after delaying the deal earlier this month to give advisers time to secure cornerstone investors.

Saudi Arabia will open its doors to international tourists for the first time under a new visa regime to be announced today, the Saudi Commission for Tourism and National Heritage said.