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Iran stepped up attacks on energy sites across the Gulf on Thursday, hitting the SAMREF refinery in Saudi Arabia. The facility is a joint venture between Saudi Aramco and ExxonMobil.The attack comes after Iran condemned the earlier strike on South Pars with its president, Masoud Pezeshkian, warning of “uncontrollable consequences” that “could engulf the entire…
Saudi Arabia’s oil company Saudi Aramco, the world’s largest oil exporter, warned on Tuesday that the ongoing Iran war could have “catastrophic consequences” for global oil markets if shipping disruptions in the Strait of Hormuz continued.“There would be catastrophic consequences for the world’s oil markets and the longer the disruption goes on, the more drastic…
Saudi Aramco jumped the most since April 2023 on Sunday as the Iran war entered its second week, prompting supply disruptions that may send oil prices higher when global markets reopen. Shares of the state-backed oil giant climbed as much as 4.9% in Riyadh before paring gains to close up 4.1%, on the first day…
Iran has launched a barrage of drones and missiles at Gulf states in retaliation for US and Israeli strikes that killed Supreme Leader Ayatollah Ali Khamenei on Saturday. The strikes continued into Tuesday, marking a sharp escalation in the regional conflict.Energy installations in Qatar and Saudi Arabia both key US allies in the Gulf State…
Pakistan condemned Iran’s strikes on Saudi Arabia and voiced firm solidarity with Riyadh. Despite a 2025 defence pact, analysts expect Islamabad to pursue diplomacy and logistical support rather than direct military involvement, due to its domestic and regional constraints. The agreement centres on conventional cooperation and explicitly excludes nuclear guarantees. Iran’s recent retaliatory drone and…
Saudi Aramco’s Ras Tanura refining facility in Saudi Arabia was hit by falling debris from the interception of an Iranian drone on Monday, as the conflict between the United States, Israel, and Iran continues even after Iran’s supreme leader Khamenei’s killing.A Saudi military spokesman made the announcement on the state-run Saudi Press Agency. The Jerusalem…
Saudi Aramco Achieves 70% Local Content Milestone in Supply Chain, Boosting Saudi Vision 2030 Saudi Aramco, the world’s largest integrated energy and chemicals company, has announced a major breakthrough in its In-Kingdom Total Value Add (iktva) programme by achieving a 70% local content benchmark in its supply chain, a milestone that underscores the Kingdom’s push…
Saudi Aramco Just Raised $4 Billion And Global Investors Are Rushing In Saudi Arabia’s oil giant, Saudi Aramco, has successfully completed a major $4 billion bond issuance, underscoring strong investor confidence in the company’s financial stability and its strategic capital management approach. The multi-tranche bond sale, a part of Aramco’s Global Medium Term Note Programme,…
Saudi Aramco reported a net profit of $26.9 billion for the third quarter, slightly lower than last year, as subdued global crude prices weighed on earnings even as the company outperformed analyst forecasts.The world’s largest oil producer said total revenue stood at $111 billion in the July–September quarter, down from $123 billion in the same…
