Latest news with #SaudiArabianOilCo
Wall Street Journal
05-08-2025
- Business
- Wall Street Journal
Saudi Aramco's Net Profit Hurt by Lower Oil Prices; Declares $21 Billion Dividend
Saudi Arabia's national oil company's second-quarter net profit was hurt by falling oil prices and higher operating costs, but the oil major said it would deliver more than $21 billion in dividends over the third quarter. Saudi Arabian Oil Co., known as Aramco, said net profit fell to $22.67 billion from $26.01 billion in the prior quarter.
Yahoo
18-06-2025
- Business
- Yahoo
Natural gas processing capacity to witness significant growth in Middle East
Natural gas processing capacity is witnessing significant growth in the Middle East, driven by a combination of factors, including increasing global energy demand, the shift towards cleaner energy sources, and abundant natural gas reserves. This capacity growth helps the region in reducing reliance on oil revenues, increasing liquefied natural gas (LNG) liquefaction capacity, and meeting the growing gas demand from various domestic industries, including power generation and petrochemicals. Countries such as Saudi Arabia, Qatar, and the United Arab Emirates (UAE) are at the forefront of this expansion, investing heavily in gas processing capacity to diversify their economies and enhance energy security. Within the Middle East, Saudi Arabia leads, accounting for nearly 40% or 7.2 billion cubic feet per day (bcfd) of the region's capacity additions by 2030. Notable gas processing plants such as Tanajib and Jafurah Phase II are set to contribute significant capacity increases during the outlook period. The Tanajib gas processing plant is slated to become operational in 2027 and is expected to add a capacity of 2.6bcfd. The Jafurah Phase II is expected to add 2.0bcfd of capacity. Saudi Arabian Oil Co is the operator and total equity owner of both these projects. Qatar stands second, accounting for 4.6bcfd, or a quarter of the region's capacity additions by 2030, stemming solely from the Ras Laffan-NFE gas processing plant. QatarEnergy LNG serves as the operator, and QatarEnergy holds full equity in this project, which is scheduled to begin operations this year. The UAE follows with a planned and announced capacity additions of 2.4bcfd by 2030. Bab Gas Cap is a major gas processing plant in the country, and is expected to add 1.9bcfd of capacity by 2030. Abu Dhabi Gas Industries Limited is the operator, while Abu Dhabi National Oil Co is the equity owner of this dehydration plant, which is slated to come online in 2027. Further details of global gas processing capacity and capex analysis can be found in GlobalData's new report, 'Gas Processing Industry Outlook by Capacity and Capital Expenditure with Details of All Operating and Planned Processing Plants to 2030'. "Natural gas processing capacity to witness significant growth in Middle East" 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
Globe and Mail
11-05-2025
- Business
- Globe and Mail
Saudi oil giant Aramco announces first-quarter profits of $26 billion, down 4.6% from a year earlier
DUBAI, United Arab Emirates (AP) — Saudi Arabia's state-owned oil giant Aramco posted first-quarter profits of $26 billion on Sunday, down 4.6% from the prior year. Aramco, formally known as the Saudi Arabian Oil Co., had revenues of $108.1 billion over the quarter, the company reported in a filing on Riyadh's Tadawul stock exchange. The company saw $107.2 billion in revenues and profits of $27.2 billion the same quarter last year. Aramco's stock traded over $6 a share Thursday, down from a high of around $8 last year. It has dropped over the past year as oil prices have dipped, and in recent months, as the OPEC+ oil cartel announced restoring production more rapidly and as uncertainty driven by U.S. tariffs has rippled through Middle Eastern markets. Benchmark Brent crude traded Friday at over $63 a barrel, down from highs of over $80 in the last year.
The Independent
11-05-2025
- Business
- The Independent
Saudi oil giant Aramco announces first-quarter profits of $26 billion, down 4.6% from a year earlier
Saudi Arabia's state-owned oil giant Aramco posted first-quarter profits of $26 billion on Sunday, down 4.6% from the prior year. Aramco, formally known as the Saudi Arabian Oil Co., had revenues of $108.1 billion over the quarter, the company reported in a filing on Riyadh's Tadawul stock exchange. The company saw $107.2 billion in revenues and profits of $27.2 billion the same quarter last year. Aramco's stock traded over $6 a share Thursday, down from a high of around $8 last year. It has dropped over the past year as oil prices have dipped, and in recent months, as the OPEC+ oil cartel announced restoring production more rapidly and as uncertainty driven by U.S. tariffs has rippled through Middle Eastern markets. Benchmark Brent crude traded Friday at over $63 a barrel, down from highs of over $80 in the last year.
Yahoo
11-05-2025
- Business
- Yahoo
Saudi oil giant Aramco announces first-quarter profits of $26 billion, down 4% from a year earlier
DUBAI, United Arab Emirates (AP) — Saudi Arabia's state-owned oil giant Aramco posted first-quarter profits of $26 billion on Sunday, down 4% from the prior year. Aramco, formally known as the Saudi Arabian Oil Co., had revenues of $108.1 billion over the quarter, the company reported in a filing on Riyadh's Tadawul stock exchange. The company saw $107.2 billion in revenues and profits of $27.2 billion the same quarter last year. Aramco's stock traded over $6 a share Thursday, down from a high of around $8 last year. It has dropped over the past year as oil prices have dipped, and in recent months, as the OPEC+ oil cartel announced restoring production more rapidly and as uncertainty driven by U.S. tariffs has rippled through Middle Eastern markets. Benchmark Brent crude traded Friday at over $63 a barrel, down from highs of over $80 in the last year. Sign in to access your portfolio
