Page 49 - Saudi Basic Industries News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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. read more Brent crude futures rose $1.01, or 1.59%, to $64.68 a barrel by 1241 GMT. The movement in o...

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 world's largest PDH plant, according to S&P Global Platts Analytics. Samsung Engineering will also build utilities and offsite facilities in a project slated for completion in 2024 in Jubail Industrial City, 100 km north of Dammam. AGC is a subsidiary of Saudi-listed...

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 tariff payments for oil transported through the system.  Aramco would hold a 51% majority stake in the p...

Riyadh: The Saudi Arabian crown prince's late-night announcement that Aramco could reduce payouts to the state will potentially alleviate the strain on the oil giant's 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 shareholders, who get roughly $1.5 billion, will be maintained - as promised in the terms of a 201...

By Reuters Staff 1 Min Read Saudi Arabia's 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) could supply 60% of the private sector’s $1.3 trillion contribution to his 2030 plan, by lowering div...