Latest news with #SaudiSteelPipeCompany
Zawya
02-05-2025
- Business
- Zawya
Saudi Steel Pipe reports lower profits at $18.4mln in Q1-25
Riyadh – Saudi Steel Pipe Company registered SAR 69 million in net profit during the first quarter (Q1) of 2025, an annual decline of 9.21% from SAR 76 million. The company generated revenues valued at SAR 454 million in Q1-25, down 11.84% year-on-year (YoY) from SAR 515 million, according to the financial results. Earnings per share (EPS) dropped to SAR 0.99 as of 31 March 2025 from SAR 1.11 a year earlier Quarter-on-quarter (QoQ), the Q1-25 profits hiked by 81.57% from SAR 38 million in Q4-24, while the revenues jumped by 73.28% from SAR 262 million. Source: Mubasher
Trade Arabia
12-02-2025
- Business
- Trade Arabia
Saudi Steel Pipe unit lands $243m Aramco supply contract
Saudi Steel Pipe Company has announced that one of its key units has secured a SAR910 million ($243 million) order from Saudi oil giant Aramco for the supply of Longitudinal Submerged Arc Welding (LSAW) pipes. As part of the contract, its consolidated subsidiary, Global Pipe Company, will supply LSAW pipe for the accelerated carbon capture and storage hub being set up by Aramco in Jubail, said Saudi Steel Pipe in its filing to the Saudi bourse. The entire work will be completed within a 15-month period. The financial impact is expected to materialize partly in the second semester of 2025 and partly the first semester of 2026, it added. This comes close on the heels of SSP's SAR138 million contract win last year from Aramco for supply of oil and gas steel pipes for a key project in the kingdom.
Zawya
10-02-2025
- Business
- Zawya
Saudi Steel Pipe subsidiary wins $243mln order for Aramco's carbon capture project
Saudi Steel Pipe Company announced on Monday that its consolidated subsidiary, Global Pipe Company, has been awarded an order valued at approximately 910 million Saudi riyals ($243 million) by Saudi Aramco for the supply of Longitudinal Submerged Arc Welded (LSAW) pipes. The company said in a stock exchange statement that the LSAW pipes are for Aramco's Accelerated Carbon Capture & Storage (CCS) hub project in Jubail in the Eastern Province. The duration of the contract is up to 15 months, the statement noted. In December 2024, Aramco had signed a shareholders' agreement with Linde, the world's largest industrial gases company, and top oilfield services firm SLB to set up one of the world's largest carbon capture and storage (CCS) hubs in Jubail. Phase 1 of the CCS will capture and store up to nine million metric tonnes per annum (MMtpa) of CO2 from three Aramco gas plants and other industrial sources, and is set to be completed by the end of 2027. (Writing by Anoop Menon; Editing by SA Kader) (
