Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure. “In the…Continue readingSaudi Aramco CEO calls energy transition strategy a failure
Tag: saudi arabia
Saudi Arabia is driving a huge global investment plan to create demand for its oil and gas in developing countries, an undercover investigation has revealed. Critics said the plan…Continue readingRevealed: Saudi Arabia’s grand plan to ‘hook’ poor countries on oil
Saudi Arabia’s energy minister has slammed the door shut to agreeing to phase down fossil fuels at the UN’s COP28 climate talks, setting the stage for difficult negotiations in…Continue readingSaudi Arabia says ‘absolutely not’ to oil phase down at COP28
More than 400 oil and gas projects were approved globally in the last two years despite calls to abandon all new hydrocarbon development, new figures showed as the UN…Continue readingHundreds of new oil and gas projects approved despite climate crisis
Saudi Aramco’s net profits surpassed analyst expectations as it revealed the impact of deeper production cuts this summer after the kingdom moved to prop up the oil price. The…Continue readingSaudi Aramco profits exceed expectations on back of buoyed oil price
Heat waves have always been part of summer, but the familiar short periods of oppressive conditions have grown into weeks to months of sweltering heat. Research has shown that…Continue readingHere are the places that could become too hot for humans due to climate change
Hyundai Engineering & Construction and Hyundai Engineering have inked a $2.4bn contract with Aramco for the construction of a gas processing plant for the Jafurah gas project phase two…Continue readingHyundai affiliates sign $2.4bn contract for Jafurah gas project phase two
More than 2,000 people suffered heat stress during the hajj pilgrimage, Saudi officials said on Thursday, after temperatures soared to 48˚C (118˚F). Over 1.8 million Muslim worshippers performed the…Continue readingThousands suffer heat stress on hajj pilgrimage as temperatures reach 48˚C
Environmental groups say the event in Perth to court the biggest polluting oil company of all time is ‘akin to a joint trade show with a tobacco major’Continue readingAustrade forum to promote links with oil giant Saudi Aramco condemned by activists
Saudi Arabia posted a budget surplus of US$27 billion (SR102bn) this year and 8.5% economic growth as the kingdom enjoys a petrodollar windfall from high oil prices. Revenues are…Continue readingSaudi Arabia posts surplus of 27 billion US dollars with oil windfall
Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production. Revenue climbed 80% to $150 billion and free cash…Continue readingSaudi Aramco posts biggest quarterly profit of any listed company
Saudi Aramco has overtaken Apple as the world’s most valuable company after higher oil prices pushed shares of the world’s biggest crude exporter to record levels, while a broader…Continue readingSaudi Aramco overtakes Apple as the world’s most valuable company
An investor group, led by BlackRock, acquired a 49% stake in Aramco Gas Pipelines Co. in a lease and leaseback deal in December, according to a statement. The consortium…Continue readingSaudi Aramco closed a deal to sell a stake in its natural-gas pipelines for $15.5 billion