Aramco
News
Pitts: LNG Sector, Beware! Aramco is Coming
Loaded with cash, Saudi oil powerhouse Aramco has embarked on a net-zero quest.
OFS Consolidation Continues with Flowserve to Buy MOGAS
Flowserve will purchase MOGAS Industries for at least $290 million, part of a number of oilfield service company acquisitions announced in 2024.
EIG Refinances $11B in Senior Debt for Aramco Pipeline Deal
EIG subsidiary Pearl Pipelines will use the proceeds to repay financing related to its $25.3 billion acquisition of 49% interest in Aramco Oil Pipelines Co. three years ago.
The Biden Effect: LNG SPAs Fall 15% in First Half 2024 After Pause
Poten & Partners data show that the total volumes associated with LNG sale and purchase agreements fell by 15% in the first half of 2024 compared to the same period in 2023 following the Biden administration’s LNG pause.
MOGAS Wins Multimillion Contract for Aramco-backed S-Oil
MOGAS said the contract is part of S-Oil backer Aramco's largest investment in South Korea.
Sempra, Aramco Sign HOA for Port Arthur LNG Phase 2 Offtake
Sempra and Aramco executed a non-binding Heads of Agreement for LNG offtake from Port Arthur LNG Phase 2, while contemplating the Saudi Arabian energy giant to grab a 25% project-level equity in Phase 2.
Well Logging Could Get a Makeover
Aramco’s KASHF robot, expected to deploy in 2025, will be able to operate in both vertical and horizontal segments of wellbores.
Aramco Brings Tight Gas Online at South Ghawar
Aramco’s onshore facilities in the South Ghawar began production two months ahead of schedule.
Amid Protests, Aramco CEO Delivers Energy Transition Reality Check
At a London energy conference disrupted by protestors, Aramco President and CEO Amin Nasser campaigned for a realistic energy transition and defended Saudi Arabia’s voluntary oil cuts as a “strategic” tool that allows it to respond to market volatility.
Exxon CEO Darren Woods: Overnight Energy Transition ‘Wishful Thinking’
Exxon Mobil CEO Darren Woods joined the leaders of Aramco and China National Petroleum Corp. in calling for governments not to prematurely pull the plug on the current energy system at the World Petroleum Congress.
Lower Oil Prices Send Saudi Oil Giant Aramco's First Quarter Profit Down 19%
Aramco's first quarter profits were still higher than the fourth quarter.
OTC: OGCI Raising Second Investment Fund for Decarbonization
The Oil and Gas Climate Initiative, formed by 12 oil and gas majors, is now attracting more E&Ps and service companies.
A&D Minute: Canada's Baytex Energy Expands in Eagle Ford in a Big Way [WATCH]
Also in this week's A&D Minute: Aramco completed its acquisition of Valvoline's global products business for $2.65 billion and pipeline operator Enbridge acquired a 5-Bcf salt cavern storage facility in Texas for $335 million.
Aramco Acquires Valvoline Global Operations for $2.65 Billion
Aramco’s acquisition of the storied Valvoline brand will advance its lubricants business to global markets.
Saudi Aramco Joins Oil Results Bonanza with 39% Jump in Net Income
Saudi Aramco's net income for third-quarter 2022 increased from $30.4 billion a year prior to $42.4 billion, beating analysts' median forecast of $41.7 billion.