Musaab Al Mulla, vice president of energy and economic insights at Saudi Aramco, outlined at the B20 Summit in São Paulo how the company intends to achieve its planned reduction of greenhouse gas emissions. Increased efficiency in energy generation and emissions offsetting are part of the strategy.
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Oil giant netted USD 1 billion more than expected from a secondary share sale in response to demand from investors.
The Saudi company saw a lower net profit in the first quarter, but the result is still more than three-quarters of the combined first-quarter profits reported by the five oil majors.
The 46% net income growth in 2022 was due to surging oil prices after Russia invaded Ukraine.
The Saudi company’s earnings totaled USD 48.4 billion, surpassing forecasts of USD 46.2 billion.
Gamers8 started on July 14 and runs until the beginning of September in the Saudi capital. Rodrigo Terra will lecture on August 8.
State-owned energy major had a market cap of USD 2.43 on Wednesday (11), surpassing Apple, whose shares dropped.
The oil company saw net income slide by 25% in the first quarter, but results were still robust, with USD 13.4 billion in dividends paid.
Saudi oil company reported last Tuesday (10) it would produce 12.3 million bpd starting April but increased its projection to 13 million barrels on Wednesday (11).
Company reported to the Saudi stock exchange on Tuesday (10) it would increase output starting April. Gulf markets rebounded.
The Saudi Arabian state-run oil company had its initial public offering (IPO) last week. Its market value exceeds that of the world’s five biggest oil companies combined.
Saudi state-owned oil company IPO received approval by the financial regulatory authority and is set to run next December in what’s expected to be the biggest share sale in history.
The Brazilian tech and engineering multinational might join transportation projects in the Arab countries. One of its strategies is to go international by following major global corporations in its client roster.
Saudi Arabia’s state-run oil company released its first-half results for the first time. Net income was down 13%; free cash flow went up.
