Saudi Arabian Oil Co.

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