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Aramco Reallocates Capital While Accelerating Industrial Digitalisation

Saudi energy giant Aramco is sharpening its focus on capital efficiency and operational performance through two strategic initiatives that reflect a broader transformation underway across the global energy industry. The company has agreed to transfer its equity stakes in the Pengerang Refining Company and Pengerang Petrochemical Company (PRefChem) to Malaysia’s PETRONAS, while simultaneously…

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Oil giant Saudi Aramco says quarterly profits up as crude prices surge

Saudi oil giant Aramco said Sunday its net profit rose by 25.5 percent in the first quarter compared to the same period last year, after the Middle East war sent oil and gas prices soaring. The result comes as uncertainty plagues global markets over the conflict’s trajectory, with Iran restricting the passage of hydrocarbons through […]

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Factbox: Iran war causes major oil, gas disruptions

The U.S.-Israeli war on Iran and Tehran’s attacks on Gulf neighbors have disrupted oil and natural gas exports from the Middle East and forced production stoppages. The war has halted shipments via the world’s most important oil artery, the Strait of Hormuz, which handles 20% of global oil and LNG supply. Saudi oil giant Aramco 2222.SE, the world’s […]

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Reports: Saudi Arabia Shuts Down Its Largest Refinery After Iran Attack

Multiple outlets reported on Monday that the Ras Tanura oil refinery in Saudi Arabia had temporarily shut down after dramatic images surfaced of smoke billowing from the facility following an Iranian attack.

The post Reports: Saudi Arabia Shuts Down Its Largest Refinery After Iran Attack appeared first on Breitbart.

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