Saudi Arabian Oil Co.

Saudi Aramco Boosting Domestic Natural Gas Output and Eyeing International LNG Investments 

Saudi Aramco Boosting Domestic Natural Gas Output and Eyeing International LNG Investments 

State-owned Saudi Arabian Oil Co., better known as Aramco, is targeting a 60% increase by 2030 in its natural gas production from 2021 levels as domestic consumption rises in the Kingdom. Speaking to investors during a conference call on Monday, CEO Amin Nasser and CFO Ziad Al-Murshed discussed an array of projects underway to boost…

March 12, 2024
Saudi Arabia Adds Two Discoveries to Domestic Natural Gas Growth Strategy

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…

December 7, 2022
Aramco CEO Warns Oil and Gas Industry ‘Not Investing Enough’ as Profits Surge on High Prices

Aramco CEO Warns Oil and Gas Industry ‘Not Investing Enough’ as Profits Surge on High Prices

Underinvestment in oil and natural gas supply could threaten global energy security and decarbonization efforts over the coming years, according to the CEO of Saudi Arabia’s state-owned oil behemoth.  Saudi Arabian Oil Co. (Aramco) CEO Amin Nasser hosted a conference call to discuss the national oil company’s (NOC) record-breaking first-half results. “Oil demand is likely…

August 17, 2022
Aramco Sells 49% Stake in Natural Gas Infrastructure in $15.5B Deal with BlackRock-Led Consortium

Aramco Sells 49% Stake in Natural Gas Infrastructure in $15.5B Deal with BlackRock-Led Consortium

Saudi Arabian Oil Co., aka Aramco, on Tuesday agreed to take $15.5 billion for a 49% interest  in its natural gas pipeline infrastructure to a consortium led by BlackRock Inc. In the transaction, newly formed Aramco Gas Pipelines Co. would have lease and leaseback usage rights of the network over a 20-year period. BlackRock clinched…

December 7, 2021