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14 January 04:56 AM

Sector News

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3 June 2025 11:41 AM Aramco concludes $5bn bond issuance
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) has completed a $5 billion issuance of bonds across three tranches under its Global Medium Term Note Program, according to a press release. The tranches include $1.50 billion senior notes …
Bonds
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22 April 2025 01:42 PM Aldrees sees 29.5% higher net profits in Q1-25
Riyadh – Mubasher: Aldrees Petroleum and Transport Services Company achieved SAR 100.10 million in net profit during the first quarter (Q1) of 2025, an annual hike of 29.32% from SAR 77.40 million. Revenues jumped by 33.75% to SAR 5.82 billion in …
Financial Results
Photo Archive
21 April 2025 04:10 PM Aramco, BYD to boost innovation of energy vehicle technologies
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) and BYD, a leading manufacturer of new energy vehicles and power batteries, agreed to explore cooperation opportunities in new energy vehicle technologies. This partnership leverages the …
Companies Investments
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9 April 2025 07:30 PM Aramco collaborates with Sinopec, Yasref for planned petrochemical expansion
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) unveiled a Venture Framework Agreement (VFA) with both China Petroleum & Chemical Corporation (Sinopec) and Yanbu Aramco Sinopec Refining Company (Yasref) for a major petrochemical expansion at …
Companies Investments
Photo Archive
9 April 2025 09:31 AM ADES Holding extends SAR 673.5m offshore jackup deals in Egypt
Riyadh – Mubasher: ADES Holding Company received notifications of extension for three of its offshore jackup rigs operating in Egypt, with a total estimated backlog value of SAR 673.50 million ($179.60 million). The extensions cover three …
Companies Investments
Photo Archive
8 April 2025 02:39 PM ADES Holding renews SAR 1bn jackup deal
Riyadh – Mubasher: ADES Holding Company has signed a contract renewal for one of its standard offshore jackup rigs with A Major National Oil Company on 7 April 2025. The unit was among the six suspended rigs that were previously operating in Saudi …
Companies Investments
Photo Archive
6 April 2025 04:52 PM ADES Holding enters Brazilian market via SAR 319m agreement
Riyadh – Mubasher: ADES Holding Company has entered a charter agreement for its premium jackup rig, Admarine 511, with Constellation Oil Services Holding to execute a contract for Petrobras in Brazil. This agreement marks the Saudi group’s entry …
Global Economy
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1 April 2025 09:51 PM Global firm EXP announces partnership with oil-focused Al Suwaiket
Riyadh – Mubasher: EXP, a global engineering, architecture, design and consulting firm has teamed with Al Suwaiket Group, a leader in supplying products and services to the oil and gas industry, for projects in Saudi Arabia. The EXP Al Suwaiket …
Sector Reports
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25 March 2025 11:45 AM Aramco acquires 50% stake in Jubail-based BHIG
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) has completed the acquisition of a 50% equity interest in the Jubail-based Blue Hydrogen Industrial Gases Company (BHIG), according to a press release. Air Products Qudra noted that this step …
Mergers and Acquisitions
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19 March 2025 01:29 PM Bahri’s board mulls cash dividends for 2024, capital hike
Riyadh – Mubasher: The National Shipping Company of Saudi Arabia (Bahri) announced the board’s recommendation to disburse cash dividends of SAR 738.28 million for 2024. Bahri will pay out a dividend of SAR 1 per share for 738.28 million eligible …
Cash Dividends
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19 March 2025 10:53 AM Petro Rabigh suffers lower losses at SAR 4.5bn in 2024
Riyadh – Mubasher: Rabigh Refining and Petrochemical Company (Petro Rabigh) incurred net losses worth SAR 4.54 billion in 2024, an annual decline of 3.15% from SAR 4.69 billion. Revenues plummeted by 11.78% year-on-year (YoY) to SAR 39.34 billion …
Financial Results
Arabian Drilling
12 March 2025 03:26 PM Arabian Drilling generates SAR 321m net profits in 2024; full-year dividends exceed SAR 240m
Riyadh – Mubasher: Arabian Drilling recorded a net profit of SAR 321.36 million in 2024, which marked a 46.85% annual decrease from SAR 604.61 million. The earnings per share (EPS) shrank to SAR 3.61 in 2024 compared to SAR 6.79 in 2023, according …
Financial Results
Saudi Arabian Oil Company
4 March 2025 01:18 PM Aramco records SAR 398.4bn net profit in 2024, unveils 1st performance-linked dividends
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) generated net profits amounting to SAR 398.42 billion ($106.25 billion) in 2024, marking a 12.39% decrease from SAR 454.76 billion ($121.27 billion) in 2023. The earnings per share (EPS) …
Cash Dividends
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24 February 2025 01:51 PM ADES Holding records 80.5% higher profits in 2024; dividends announced
Riyadh – Mubasher: ADES Holding Company generated an 80.54% leap in net profit to SAR 816.19 million during 2024, versus SAR 452.07 million in 2023. Revenues hiked by 43.10% year-on-year (YoY) to SAR 6.19 billion in 2024 from SAR 4.33 billion, …
Financial Results
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19 February 2025 06:11 PM Aramco to own 25% of petroleum firm Unioil within plans to enter Philippines retail market
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) has signed definitive agreements to acquire a 25% equity stake in Unioil Petroleum Philippines, one of the largest petroleum companies in the Philippines. Upon the deals signed on 19 February …
Management Decisions
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18 February 2025 05:47 PM Arabian Drilling, Shelf Drilling form to expand offshore drilling globally
Riyadh – Mubasher: Arabian Drilling inked a memorandum of understanding (MOU) with Shelf Drilling Limited to deploy some of its premium jack-up rigs internationally. The two companies will form a strategic alliance to expand their reach and …
Global Economy
Ahmad Al Khowaiter, Aramco EVP Technology & Innovation
10 February 2025 04:59 PM Al Khowaiter shares factors helping Aramco thrive, mentions $1trn reliability cost during speech at LEAP 2025
Riyadh – Mubasher: Ahmad Al Khowaiter, the Executive Vice President for Technology and Innovation at Saudi Arabian Oil Company (Aramco), highlighted how three factors are helping the entity get ahead and stay ahead, during his speech at the …
Global Economy
Photo Archive
9 February 2025 03:33 PM Saudi ADES Holding announces drilling contract award in Nigeria
Riyadh – Mubasher: ADES Holding Company’s jackup drilling unit Admarine 501 has been awarded a contract with Nkuku Ikon Petroleum Development Company Limited for offshore drilling operations in Nigeria. The new contract marks the final …
Companies Investments
Photo Archive
2 February 2025 02:57 PM Bahri’s profits jump 34.5% in 2024; revenues cross SAR 9.4bn
Riyadh – Mubasher: The National Shipping Company of Saudi Arabia (Bahri) recorded a 34.45% year-on-year (YoY) hike in net profit to SAR 2.16 billion during 2024, compared to SAR 1.61 billion. The revenues hit SAR 9.48 billion as of 31 December …
Financial Results
Photo Archive
23 January 2025 07:03 PM Oil prices recover in December 2024; Aramco reduces prices for 2025 beginning – Aljazira Capital
Mubasher: The recent oil and petrochemicals monthly report by Aljazira Capital unveiled that methanol, propylene, and Urea prices rose in December 2024, while EDC, PVC, HDPE and PC declined. The listed Saudi Arabian Oil Company (Aramco) lowered …
Global Economy
Photo Archive
21 January 2025 02:04 PM Aldrees records SAR 338m net profits in 2024, announces SAR 150m dividends proposal
Riyadh – Mubasher: Aldrees Petroleum and Transport Services Company generated a net profit worth SAR 338 million in 2024, signalling a 20.37% increase from SAR 280.80 million in 2023. The company witnessed a 30.02% annual growth in revenue to SAR …
Cash Dividends
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16 January 2025 03:54 PM Saudi Arabia seen as global mining hub upon major agreements at FMF 2025
Riyadh – Mubasher: The fourth edition of the Future Minerals Forum (FMF) witnessed four strategic announcements to foster Saudi Arabia’s position as a global leader in the mining and minerals sector. In line with the Saudi Vision 2030, the …
Companies Investments
Nasir Al Naimi, Aramco Upstream President
15 January 2025 05:45 PM Aramco, Ma’aden announce transition minerals JV at FMF 2025
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) and Saudi Arabian Mining Company (Ma’aden) signed non-binding heads of terms to form a minerals exploration and mining joint venture (JV) in Saudi Arabia. The proposed JV plans were announced …
Event
Global Lighthouse Network of the World Economic Forum
14 January 2025 09:57 PM Aramco unveils 5th facility to receive WEF lighthouses network status
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) has announced that North Ghawar Oil Producing Complex became Aramco’s fifth facility to be added to the Global Lighthouse Network of the World Economic Forum (WEF), according to a press …
Companies Investments
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13 January 2025 03:53 PM Aramco pens $9bn agreements at iktva 2025 forum
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) signed 145 agreements and memoranda of understanding (MoUs) valued at around $9 billion, according to a press release. This came on the sidelines of the In-Kingdom Total Value Add (iktva) Forum …
Companies Investments