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Brent crude has gained over 30 per cent this year to top $68 a barrel May 5, 2021 Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments. The world’s biggest energy company kept its quarterly payout, almost all of which goes to the Saudi Arabian government, at $18.75bn. The money is vital for the kingdom as it tries to narrow a budget deficit that ballooned last year, with the coronavirus pandemic sinking oil prices and shutting down local businesses. The bumper resu...
Saudi Aramco Follows Big Oil Rivals with Bumper Earnings Posted 05/05/2021 12:10 Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments. The world’s biggest energy company kept its quarterly payout, almost all of which goes to the Saudi government, at $18.75 billion. The money is vital for the kingdom as it tries to narrow a budget deficit that ballooned last year, with the coronavirus pandemic sinking oil prices and shutting down local businesses. The bumper results foll...
Abdulaziz Al-Harbi is the newly appointed acting chief executive officer of Saudi Arabian Mining Co. (Ma’aden). Ma’aden is one of the fastest-growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East. According to the company, Al-Harbi has more than 30 years’ experience in project management, planning and operations. Prior to his appointment as acting CEO, Al-Harbi served as executive vice president for shared services & security. Before that, he served as president for Ma’aden Bauxite and Aluminum Co. (MBAC) and the Ma’aden A...
Middle EastMIDEAST STOCKS Banks buoy Saudi index; other major Gulf bourses dip Ateeq Shariff 4 minutes read An investor monitors a screen displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014./File Photo Saudi Arabia's stock market outperformed the region on Wednesday, boosted by gains in financial shares, while other major Gulf markets ended lower. Saudi Arabia's Crown Prince Mohammed bin Salman said on Tuesday the kingdom had no plans to introduce income tax and a decision last July to triple value-added tax to 15% was temporary. read more The country had tripled...