Aramco

Saudi Arabia’s national oil company raised its dividend payouts for last year after it achieved its second-highest ever net profit and said investment plans to 2028 would be reduced by an abandoned plan to boost production. Saudi Arabia’s national oil company raised its dividend payouts for last year after it achieved its second-highest ever net profit and said investment plans to 2028 would be reduced by an abandoned plan to boost production. FOLLOW US ON GOOGLE NEWS Read original article here Denial of…

Mumbai-based IT services provider LTIMindtree has picked up 51% controlling stake in a new joint venture (JV) formed with Global Digital Integrated Solutions Company, a wholly owned subsidiary of oil firm Saudi Aramco, to provide information technology services in the Middle East and North Africa (MENA) region.LTIMindtree, India’s sixth largest IT services firm by revenue, will make an initial investment equivalent to $12.3 million (about Rs 101.96 crore), in one or more tranches, the company said in a regulatory filing…

The Joe Biden administration has forced a Saudi Aramco-backed venture capital firm to sell its shares in a Silicon Valley AI chip startup backed by OpenAI cofounder Sam Altman, reported Bloomberg News on Thursday. Altman-backed Rain Neuromorphics, a startup designing chips that mimic the way the brain works and aims to serve companies using artificial intelligence (AI) algorithms, raised $25 million in 2022.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB…

The Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, last week announced an extra output cut of 1.16 million barrels per day from May for the rest of the year. Aramco is one of the largest companies in the world by revenue and has repeatedly achieved the largest annual profits…

Saudi Arabia’s national oil company reported record annual profit of $161 billion for 2022, the largest ever by an energy firm, continuing a dramatic turnaround for the global oil industry after the Ukraine war lifted crude prices and upended commodity flows.Saudi Arabian Oil Co., known as Aramco, said its yearly profit swelled by 46% in 2022, a period when Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries, continued to rebuff U.S. requests to pump more oil to help tame surging…

<!----> Aramco has signed a letter of intent to become a potential minority stakeholder in a new powertrain technology company (PWT), to be established by Geely Holding Group and Renault Group. The new company will be dedicated to internal combustion and hybrid powertrain…

In the race to find cleaner fuels, the heavy duty transportation sector is woefully behind because batteries don't have enough juice to power trucks and ships. Enter ammonia. New technology and new companies are working on turning ammonia into hydrogen to power tractors, trucks and even ships.The heavy duty trucking industry alone accounts for almost a quarter of all greenhouse gas emissions from transportation. Emissions from shipping increased nearly 10% from 2012 to 2018, according to the International Maritime…

Saudi Arabia’s national oil company posted a 39% jump in quarterly profit on Tuesday, as high oil prices boosted earnings that help the kingdom pay for an ambitious economic transformation plan at home and expand its diplomatic influence in the region.Aramco, officially named Saudi Arabian Oil Co., said its net income amounted to $42.43 billion in the three months ending in September, up from $30.43 billion in the same period a year earlier, driven by higher crude-oil prices and volumes sold. The third-quarter profit was…

The energy giant's net income totalled $42.4 billion — up from $30.4 billion during the same period last year — and was "primarily driven by higher crude oil prices and volumes sold". Aramco's latest financial results were published just days before the COP27 climate summit aimed at curbing global warming.…

China’s Geely Automobile Holdings and Saudi Arabia’s state oil group Aramco reportedly are negotiating to buy 40% and 20% stakes respectively in Renault’s future fossil fuel engine unit, which will include the Dacia car plant in Romania (Mioveni Mechanical Plant) as well as engineering centres from several countries, including the one in Romania. Talks are still ongoing with other partners, romania-insider.com reported,…