Tag: Saudi Arabia

Saudi Arabia's national oil company Aramco announced its financial results for 2023 on Sunday, revealing that it earned $121 billion in profit for the year. This is a decline from the record $161 billion profit in 2022, the largest ever to be reported by...

Goldman Sachs has warned its clients that oil prices could skyrocket to $107 per barrel next year should Russia and Saudi Arabia continue to implement aggressive output cuts. This comes after the two nations announced that they would extend their production cuts until the...

Saudi Arabian Mining Company, known as Ma'aden, saw its second-quarter profits fall by 91% as sale prices dropped and expenses for the company rose. Net profit for the quarter was 350.9 million riyals ($93.53 million), down 91% from the 4 billion riyals posted the...

Saudi Arabia's Aramco is currently evaluating investment proposals from refining major Sinopec Corp and French oil giant TotalEnergies, a source familiar with the matter revealed on Tuesday. The investment, worth a reported $10 billion, would be used for a shale gas development. Investment plans may...

Saudi Arabia's Crown Prince Mohammed bin Salman announced on Sunday that a 4% stake in the nation's oil giant Saudi Aramco has been given to the Saudi Arabian Investment Co.; the kingdom's sovereign wealth fund. This move comes as the country seeks to diversify...