SIIG announces the maintenance of two JV projects
(Tadawul - 31/01/2018)
SIIG announces that its two projects Saudi Chevron Phillips (SCP) and Jubail Chevron Phillips (JCP) located in Jubail industrial city, have started their planned periodic maintenance shutdowns that include the catalyst replacement. The shutdown schedule
Saudi Sipchem mulls US shale venture in first foreign foray
(Gulf News - 31/01/2018)
Saudi International Petrochemical Co. is considering investing in the US shale industry in what would be the company's first foreign venture as it faces higher costs and a shortage of feedstock at home in Saudi Arabia. Sipchem, as the business is known,
Saudi Aramco considering expansion to India- Nikkei
(Reuters - 30/01/2018)
Saudi Aramco , the state oil company of Saudi Arabia, is considering entering India as part of its Asian expansion, Nikkei said on Tuesday, citing Aramco's CEO who said that plans for an Indian refinery are crystallising. "Saudi Aramco is looking at
Sabic posts 18.6pc fall in Q4 net profit
(Trade Arabia - 30/01/2018)
Sabic has posted a net profit of SR3.67 billion ($977 million) for the fourth quarter of 2017 compared to SR4.51 billion for the same quarter in 2016, reflecting a decrease of 18.63 per cent. Gross profit for the fourth quarter amounted to SR12.61
Saudi's Sabic buys quarter of Clariant
(Times of Oman - 28/01/2018)
Saudi Basic Industries Corp (Sabic) bought a 25 per cent stake in Clariant, ending the Swiss speciality chemical group's fight with activist investors but raising further questions about its future. US activists David Winter, David Millstone and hedge
Saudi's SABIC Q4 net profit falls 18.6% as output, sales drop
(Reuters - 28/01/2018)
Saudi Basic Industries Corp 2010.SE (SABIC), the world's fourth-biggest petrochemicals company, reported an 18.6 percent drop in fourth-quarter net profit on Sunday, citing lower output and sales. SABIC made a net profit of 3.67 billion riyals ($979
Aramco seeks to expand in US, says Trump is pro-oil
(Arab News - 26/01/2018)
Saudi Aramco is looking to expand in the United States where President Donald Trump's tax cuts and support for the oil industry are making business increasingly attractive, its chief executive told Reuters. Aramco already controls a large refinery in
Aramco will be ready for IPO in H2: CEO
(Trade Arabia - 26/01/2018)
Saudi Aramco will be ready for its planned initial public offering (IPO) in the second half of 2018, Amin Nasser, Chief Executive Officer, reiterated in an interview at the World Economic Forum in Davos. Speaking to Bloomberg Television's Francine
SABIC demonstrates commitment to sustainable development at WEF
(Press Release - 25/01/2018)
For the third consecutive year, SABIC is displaying a concept of an energy-efficient, quick to construct, and reusable building at the World Economic Forum (WEF) in Davos, Switzerland, from January 23 to 26, demonstrating the company's commitment to
Aramco IPO to make global impact, say regional money managers
(The National - 25/01/2018)
Money managers in the Middle East are confident the stake sale of government-owned Saudi Arabian Oil Co, known as Aramco, this year will shake up the global stock market with a record initial public offering that gives the world's biggest company a
Aramco Devising Thriftier Engines to Defuse Electric-Car Threat
(Bloomberg - 25/01/2018)
While Saudi Arabia tries to wean its economy off crude, the nation's flagship company is devising new ways to make money from the fuel. Saudi Aramco, the world's biggest oil exporter, is investing in developing more efficient gasoline-powered engines and
Saudi's SABIC buys 24.99 stake in Swiss chemicals maker Clariant
(Reuters - 25/01/2018)
Saudi Basic Industries Corp (SABIC) has agreed to acquire a 24.99 percent stake in Swiss specialty chemicals maker Clariant AG , SABIC said on Thursday, becoming the Swiss company's largest shareholder. <b> SABIC did not say how much it paid for the
Saudi Arabia to link Aramco tax to oil price
(The National - 25/01/2018)
Saudi Arabia plans to link the most important tax paid by state-owned energy giant Aramco to the price of oil, a significant move ahead of the company's initial public offering this year. Adjusting the 20 per cent royalty on oil revenue Aramco currently
Saudi regulator asked to study local market impact of Aramco IPO
(Gulf News - 25/01/2018)
An advisory council to Saudi Arabia's government has asked the kingdom's securities regulator to study the impact of listing Saudi Aramco on the local bourse amid concern that a huge initial public offering could damage the market. The Shura Council's
Alba launches programme to cut costs, raise output
(Trade Arabia - 25/01/2018)
Aluminium Bahrain (Alba) a leading Bahrain-based aluminium smelter, has launched Phase III of its company-wide, cost reduction programme Project Titan. Project Titan aims to reduce cash-cost by $60 per metric tonne of aluminium and step-up its production
Saudi's Ma'aden joint venture hires banks for riyal sukuk issue
(Reuters - 24/01/2018)
Ma'aden Phosphate Co (MPC), a subsidiary of Saudi Arabian Mining Co (Ma'aden), has hired banks to arrange a riyal-denominated sukuk issue, according to documents seen by Reuters, including the sukuk prospectus. The company, which owns and operates one of
Aramco Trading Starts Swapping Saudi Crude Oil for Refined Fuels
(Bloomberg - 24/01/2018)
Saudi Aramco's trading unit started swapping the kingdom's crude oil for products refined in other countries, according to its chief executive officer. The company has swapped crude with refiners in the Mediterranean in return for products, Ibrahim
Saudi regulator asked to study local market impact of Aramco IPO
(Reuters - 24/01/2018)
An advisory council to Saudi Arabia's government has asked the kingdom's securities regulator to study the impact of listing Saudi Aramco on the local bourse amid concern that a huge initial public offering could damage the market. The Shura Council's
Russia may back Aramco IPO, enhance OPEC ties
(Reuters - 23/01/2018)
Russian pension funds are considering investing in Saudi Arabian state oil major Aramco when it lists its stock in a move to strengthen the partnership between the world's two top oil producers, Russia's top state investment officer said. The head of
Russian pension funds eyeing Saudi Aramco IPO
(Reuters - 23/01/2018)
Russian pension funds may invest in the stock market listing of Saudi state oil company Aramco, the head of the Russian Direct Investment Fund told Reuters in an interview. The state-backed fund's Chinese partners are also interested in such investment,
SABIC highlights local content initiative at PPPP expo
(Saudi Gazette - 23/01/2018)
SABIC is participating in the Saudi Plastics and Petrochem exhibition at the Riyadh International Convention and Exhibition Center, which opened Sunday, as the Diamond Sponsor, at a time when Saudi Arabia is accelerating its drive toward economic
Alba wins 'Syndicated Loan Deal of 2017' award
(Trade Arabia - 22/01/2018)
Aluminium Bahrain (Alba), the Bahrain-based aluminium smelter, was recently recognised as the winner in the 'Syndicated Loan of the Year' category at the Bonds, Loans and Sukuk Middle East Awards which was held in Dubai, UAE. The award recognised Alba's
Banks expected to share tiny proportion of Aramco IPO
(Gulf Times - 21/01/2018)
The banks that will advise and execute Saudi Aramco's stock market listing are expected to share a tiny proportion of the $100bn Riyadh hopes to raise in its initial public offering, according to banking sources and industry insiders. Investment banks
CB&I announces Joint Development Agreement with Saudi Aramco
(Press Release - 19/01/2018)
CB&I has announced it has entered into a Joint Development Agreement with Saudi Aramco that includes Chevron Lummus Global (CLG), CB&I's joint venture with Chevron U.S.A. Inc., for the development, commercialization and marketing of innovative
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