The call to cut the carbon from natural gas and oil, versus eliminating fossil fuels from the energy mix, is gaining supporters, as top energy executives in Houston this week pushed for stakeholders to acknowledge that global demand is growing, while a renewables-only future is unattainable in the near term. In the unofficial energy capital…
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Articles from Aramco
Aramco to Expand Oil Deliveries to China for Refinery and Petrochemical Growth
Saudi Arabian Oil Co. is taking a 10% stake in a Chinese petrochemical company to expand its crude oil presence in the country. Aramco, as it is known, said it would pay around $3.6 billion to buy the interest in Rongsheng Petrochemical Co. Ltd. Aramco Overseas Co. (AOC) would manage the stake. Under a long-term…
Decarbonizing Transportation Via Natural Gas-Derived Ammonia Set to Disrupt Maritime Sector
Amogy, a Brooklyn-based startup company, has found a way to use ammonia to power the world’s first zero-emissions tugboat. This announcement comes after the company successfully powered a semi-truck. In an interview with NGI, CEO Seonghoon Woo talked about how using ammonia could decarbonize transportation. “Beyond its incredible energy density and liquid phase at an…
Saudi Arabia Adds Two Discoveries to Domestic Natural Gas Growth Strategy
Saudi Arabia’s Ministry of Energy has announced two discoveries by state-controlled Saudi Arabian Oil Co. (Aramco) that officials said could help it continue to build natural gas reserves for domestic use. Energy Minister Abdulaziz bin Salman Al Saud called the discoveries an important part of “increasing the kingdom’s natural gas reserves” and helping Saudi Arabia…
Aramco Boosting Petroleum Production as Demand Recovers, Using Natural Gas to Expand Hydrogen Options
Global petroleum demand should reach pre-pandemic levels by early 2022, putting Saudi Arabia’s state-owned oil company in a sweet spot as it boosts production, executives said Monday. Saudi Arabian Oil Co., aka Aramco, saw a 288% jump in profits from a year ago as oil prices jumped. Petroleum consumption is rising as vaccination rates improve…
Aramco CEO Touts Positive Signs for Increasing Oil, Gas Demand as Global Economies Recover
As the global economy awakens from the coronavirus-induced slumber, Saudi Arabia Oil Co., aka Aramco, is springing back as well, reporting its first quarter profits jumped 30% from a year ago, sharply surpassing expectations. “Given the positive signs for energy demand in 2021, there are more reasons to be optimistic that better days are coming,”…
Aramco Raises $12B-Plus in Oil Pipeline Deal with EIG-Led Consortium
Saudi Arabia Oil Co., better known as Aramco, has struck a $12.4 billion transaction to sell a minority stake in its oil pipeline operations to a consortium led by U.S.-based EIG Global Energy Partners. The global investment group agreed to take 49% equity interest in newly created Aramco Oil Pipelines Co. Aramco today operates more…
Oil Price Improvement ‘Faster’ Than Expected, Says Aramco CEO
Saudi Arabia’s state-owned oil and gas company is using technology and reservoir management to segue into an “unprecedented moment” in history, as it works to supply necessary energy while reducing emissions, CEO Amin Nasser said earlier this month. Nasser and his management team held a conference call to discuss the 2020 results for Saudi Arabia…
Aramco Looking to Skip LNG Exports, Focus on Blue Hydrogen Transport
Saudi Arabia’s state-owned oil company is looking to expand its natural gas business by skipping over the traditional export route and going for a growing market in blue hydrogen, executives said Monday. Saudi Arabia Oil Co., better known as Aramco, is the largest oil exporter in the world. It also has a plethora of natural…
Saudi Aramco Reports Increasing Natural Gas Output, with Earnings Climbing in 3Q
Saudi Arabia Oil Co., aka Aramco, achieved record natural gas production of 10.7 Bcf/d on one day in early August from conventional and unconventional fields, management said Wednesday. The recordbreaking figure was set on Aug. 6, executives said during a third quarter conference call. There also are hints of improving demand for oil and gas.…