Yemen’s Houthi launch missile, drone attack on Aramco’s oil facilities
RIYADH: Houthi rebels in Yemen launched a missile and drone attack targeting the oil facilities of Aramco in Saudi Arabia and raising fears of a new escalation in the six-year conflict. The attack on energy giant Aramco’s facilities came as
Saudi Aramco profit crashes 73% amid signs of recovery
RIYADH: State oil giant Saudi Aramco’s profit has plunged 73 percent in the second quarter of the year amid a slump in energy demand and prices due to the coronavirus crisis. All major oil companies have taken a hit in
Saudi Aramco declares $1.71 trillion valuation in IPO
RIYADH: Saudi Arabia on Sunday put a value of up to $1.71 trillion on energy giant Aramco in what could be the world’s biggest IPO, but missed Crown Prince Mohammed bin Salman’s initial target of $2 trillion. Aramco said it
Saudi oil giant Aramco heads for record-setting market debut
RIYADH: Saudi Arabia announced on Sunday the stock market debut of energy giant Aramco in what could be the world’s biggest IPO. After years of delay, Aramco said it plans to sell an unspecified number of shares on the Riyadh
Oil prices fall as Saudi Arabia assures to restore oil supply
RIYADH: Saudi Arabia’s Minister for Energy, has assured the concerned countries that oil output will return to normal by the end of this month. Saudi Arabian Minister of Energy, Salman Bin Abdul Aziz told in a press conference, “Production will
Saudi stocks plunge after drone attacks on Aramco
Riyadh: The Saudi stocks fell by 2.3 percent after the recent attacks on ARAMCO facilities in Saudi Arabia. The attacks on the facilities have slashed the Saudi oil supply by almost 50 percent. The Saudi markets opened on Sunday observed