Page 25 - Saudi Basic Industries News Today

Middle EastMIDEAST STOCKS Qatar leads major Gulf markets higher; Egypt retreats Ateeq Shariff 4 minutes read Major Gulf stock markets ended higher on Wednesday amid rising oil prices on revised oil demand forecasts, while Egypt was hit by a blue-chip sell-off. The International Energy Agency (IEA) predicted global oil demand and supply would rebalance in the second half of the year and that producers may then need to pump an additional 2 million barrels per day to meet the expected demand. rea...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The PDH plant will be able to produce 843,000 mt/year of propylene, according to Samsung Engineering -- equivalent to propane processing capacity of about 1 million mt/year when running at a 100% rate, making it the worlds largest PDH plant, according to S&P Global Platts Analytics. Samsung Engineering will also build utilities and offsite facilities in a project slated for complet...

Aramco Raises $12B-Plus in Oil Pipeline Deal with EIG-Led Consortium Saudi Arabia Oil Co., better known as Aramco, has struck a $12.4 billion transaction to sell a minority stake in its oil pipeline operations to a consortium led by U.S.-based EIG Global Energy Partners.  The global investment group agreed to take 49% equity interest in newly created Aramco Oil Pipelines Co. Aramco today operates more than 90 pipelines across the country. The consortium also secured rights to 25 years of tarif...

Riyadh: The Saudi Arabian crown princes late-night announcement that Aramco could reduce payouts to the state will potentially alleviate the strain on the oil giants balance-sheet. The details are still unclear - the move took investors by surprise and the company said on Thursday it was still committed to paying dividends. But the move could free up some of the $73.5 billion of annual dividend payments Aramco makes to the government, which owns 98 per cent of the company. Payouts to minority ...

By Reuters Staff 1 Min Read Saudi Arabias Crown Prince Mohammed bin Salman speaks during talks with Russian President Vladimir Putin in Riyadh, Saudi Arabia, October 14, 2019. LONDON (Reuters Breakingviews) - SLASH AND GRAB. Mohammed bin Salman has found a new source of cash for his 12 trillion riyal ($3.2 trillion) pivot away from oil: company dividends. The Saudi crown prince said on Tuesday that $1.9 trillion oil giant Saudi Aramco and its new acquisition Saudi Basic Industries (SABIC) coul...

2 Min Read (Reuters) - Most major stock markets ended higher on Thursday, while the Saudi index eased a day after it registered sharp gains triggered after the kingdom announced a private investment push. FILE PHOTO: A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018. REUTERS/Faisal Al Nasser Saudi Arabia’s crown prince said oil firm Aramco and petrochemical firm SABIC would lead 5 trillion riyals ($1.33 trillion) of i...

2 Min Read (Reuters) - The Saudi Arabian stock market ended higher on Tuesday, amid rising oil prices as the focus returned to a tighter market, while the Abu Dhabi index retreated, hit by First Abu Dhabi Bank which went ex-dividend. FILE PHOTO: Reflection of stock market is seen on a screen as a trader monitors at Bahrain Bourse in Manama, Bahrain, September 16, 2019. REUTERS/ Hamad I Mohammed Saudi Arabia’s benchmark index advanced over 1%, as all its banking shares gained including Al Rajh...

Saudi Stocks Lead Gulf Gains on Surging Oil Bets: Inside EM Bloomberg 3/7/2021 Filipe Pacheco © Photographer: Bloomberg/Bloomberg An electronic screen displays stock price information at the Dubai Financial Market PJSC (DFM) in Dubai, United Arab Emirates, on Sunday, Sept. 6, 2020. Dubai made a rare foray into public bond markets, revealing along the way that its debt burden is now a lot smaller than estimated by analysts only months ago. (Bloomberg) -- Saudi stocks rose th...

Saudi Shares Drop as U.S. Pins Khashoggi Murder on Crown Prince Bloomberg 2/28/2021 (Bloomberg) -- Saudi stocks fell the most in a month, tracking last week’s declines across emerging markets, as traders weighed the impact of a U.S. intelligence report saying Crown Prince Mohammed bin Salman signed off on the killing of Washington Post columnist Jamal Khashoggi. The Tadawul All Share Index retreated as much 1%, its sharpest decline since Jan. 31. It pared losses to close 0.5% lower. Al Raj...

Blue ammonia’s role in the energy transition of Saudi Arabia and Japan The world’s first shipment of blue ammonia was dispatched from Saudi Arabia to Japan on Sep. 27, 2020 for use in a power station for the production of zero-carbon power generation, paving the way for the further use of hydrogen in the energy system. The Saudi-Japanese collaboration is part of a pilot project, conducted by the Institute of Energy Economics, Japan (IEEJ) and oil company Saudi Aramco in partnership with Sau...