Latest news with #PortArthur
Associated Press
3 days ago
- Business
- Associated Press
2 Japanese men were killed in northern China in a business dispute, police say
BEIJING (AP) — Two Japanese men were killed last month in the Chinese port city of Dalian because of a dispute with a Chinese business partner, police said Tuesday. The partner, a 42-year-old man surnamed Yuan, was arrested May 24, one day after the killings were reported to Dalian police. Yuan is a long-time resident of Japan and did business with the victims in that country and the Japanese men were visiting China, a Chinese police statement said. The police statement did not say what the dispute was about or how the victims were killed. Two stabbing attacks on Japanese schoolchildren last year have raised concern among Japanese about traveling to and living in China. In one case, a 10-year-old boy died, and in the other, a Chinese attendant on a school bus was killed after she tried to prevent the assailant from getting on the bus. Dalian, once known as Port Arthur to westerners, was a Russian naval base that was taken by Japan during the 1904-05 Russo-Japanese War.
Yahoo
17-05-2025
- Business
- Yahoo
Aramco signs 34 MOUs and agreements with US companies, potentially worth $90bn
Aramco, the Saudi Arabian oil giant, has announced the signing of 34 memorandums of understanding (MOUs) and agreements with major US companies, potentially totalling around $90bn (SR337.5bn) in value. These agreements, facilitated through Aramco Group Companies, span a diverse range of activities including AI, asset management, chemicals, digital solutions, emission-reduction technologies, fuels, liquefied natural gas (LNG), manufacturing and procurement. The downstream agreements include a technology licensing MOU with Honeywell UOP for an aromatics project and a similar MOU with Motiva for a project in Port Arthur, pending a final investment decision. Aramco has signed an MOU with Afton Chemical for the development and supply of chemical fuel additives and another with ExxonMobil to evaluate a major upgrade to the SAMREF refinery, transforming it into a leading petrochemical complex. In the upstream sector, Aramco has secured an MOU with Sempra Infrastructure concerning an equity and offtake stake in Port Arthur LNG 2. The company has also agreed to explore global opportunities with Woodside Energy, including equity interest and LNG offtake from the Louisiana LNG project, with potential collaboration on lower-carbon ammonia. Additionally, NextDecade has reached a final agreement with Aramco for the supply of 1.2 million tonnes per annum of LNG from the Rio Grande LNG facility's Train 4, subject to specific conditions. Aramco has also signed technical services MOUs that reflect the ongoing relationships with strategic US suppliers such as SLB, Baker Hughes and McDermott, providing materials and services for Aramco's projects and operations. Aramco president and CEO Amin H. Nasser said: 'Yesterday's announcements show the breadth and depth of Aramco's long history of partnerships with US companies since the first discovery of oil in the kingdom more than 90 years ago. 'Our US-related activities have evolved over the decades, and now include multi-disciplinary R&D [research and development], the Motiva refinery in Port Arthur, start-up investments, potential collaborations in LNG and ongoing procurement. 'As Aramco pursues an ambitious value-driven growth strategy, we believe that aligning with world-class partners supports further development of our operations, strategic diversification of our portfolio, industrial innovation and ongoing capability development within the kingdom.' On the technology and innovation front, Aramco has entered into a non-binding strategic framework agreement with Amazon/AWS for digital transformation and lower-carbon initiatives. Aramco has also signed agreements with NVIDIA, Qualcomm and Guardian Glass. In finance, Aramco is collaborating with BlackRock, Goldman Sachs, Morgan Stanley, PIMCO, State Street Corporation and Wellington. "Aramco signs 34 MOUs and agreements with US companies, potentially worth $90bn" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Trade Arabia
15-05-2025
- Business
- Trade Arabia
$90bn DEALS: Aramco signs 34 MoUs, agreements with US firms
Aramco, one of the world's leading integrated energy and chemicals companies, has announced the signing of 34 memoranda of understanding (MoUs) and agreements, with a potential total value of approximately $90 billion, with major US companies, through its Aramco Group Companies. The MoUs and agreements cover collaborations and partnerships relating to a range of Aramco's activities, including liquefied natural gas (LNG), fuels, chemicals, emission-reduction technologies, Artificial Intelligence (AI) and other digital solutions, manufacturing, asset management, short-term cash investments, and procurement of materials, equipment, and services. The MoUs and agreements aim to build on the longstanding relationship between Aramco and US companies, enhance shareholder value, and foster further collaboration and innovation in the energy sector and beyond, said Aramco. Amin H Nasser, Aramco President & CEO, said: 'Yesterday's announcements show the breadth and depth of Aramco's long history of partnerships with US companies since the first discovery of oil in the Kingdom more than 90 years ago. Our US-related activities have evolved over the decades, and now include multi-disciplinary R&D, the Motiva refinery in Port Arthur, start-up investments, potential collaborations in LNG, and ongoing procurement. As Aramco pursues an ambitious value-driven growth strategy, we believe that aligning with world-class partners supports further development of our operations, strategic diversification of our portfolio, industrial innovation, and ongoing capability development within the Kingdom.' The MoUs and agreements signed by Aramco, and its Aramco Group Companies, are as follows: Downstream • Honeywell UOP: MoU related to technology licensing for an aromatics project. • Motiva: MoU related to an aromatics project in Port Arthur, subject to a final investment decision. • Afton Chemical: MoUs related to development and supply of chemical fuel additives in pipelines and retail fuel offerings. • ExxonMobil: MoU related to evaluating a significant upgrade to the SAMREF refinery and expanding the facility into a world-class integrated petrochemical complex. Upstream • Sempra Infrastructure: MoU related to previously announced HOA regarding liquified natural gas (LNG) equity and offtake stake in Port Arthur LNG 2. • Woodside Energy: Collaboration Agreement to explore global opportunities, including an equity interest and LNG offtake from the Louisiana LNG project. Additionally, both companies are exploring opportunities for a potential collaboration in lower-carbon ammonia. • NextDecade: Final Agreement to purchase 1.2 million tonnes per annum of LNG for a 20-year term from Train 4 of the Rio Grande LNG Facility, subject to certain conditions, including a positive final investment decision of Train 4. Technology & Innovation • Amazon/AWS: Non-binding Strategic Framework agreement related to collaboration on digital transformation and lower-carbon initiatives. • NVIDIA: MoU related to developing advanced Industrial AI computing infrastructure, establishing an AI Hub and AI Enterprise platforms, an Engineering and Robotics Center of Excellence, training and upskilling, and collaborating with NVIDIA's startup ecosystem. • Qualcomm: MoU with Aramco Digital that aims to explore entry into a strategic collaboration that will focus on key digital transformation use cases, leveraging Aramco Digital's 450 MHz 5G industrial network to connect intelligent edge devices with on-device AI capabilities, including smartphones, rugged industrial devices, robots, drones, cameras, sensors, and other IoT devices. Technical Services • Procured Materials and Services: MoUs were signed to reflect the existing relationships with strategic US suppliers: SLB, Baker Hughes, McDermott, Halliburton, Nabors, Helmerich & Payne, Valaris, NESR, Weatherford, Air Products, KBR, Flowserve, NOV, Emerson, GE Vernova, and Honeywell. These suppliers provide high-standard materials and professional services that help support Aramco's projects and operations. Strategy & Corporate Development • Guardian Glass: MoU to localise specialty glass manufacturing for architectural applications in the Kingdom of Saudi Arabia. Finance • Wisayah asset management agreements with PIMCO, State Street Corporation, and Wellington. • Agreements for short-term cash investments through a unified investment fund, the 'Fund of One,' with BlackRock, Goldman Sachs, Morgan Stanley, and PIMCO. - TradeArabia News Service
