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The meeting will be held virtually for a second consecutive time due to the ongoing coronavirus disease (Covid-19) pandemic.(Mint file photo)

Reliance to hold 44th AGM today; deal with Aramco, 5G technology on the agenda

By hindustantimes.com | Written by Harshit Sabarwal | Edited by Amit Chaturvedi, New Delhi
UPDATED ON JUN 24, 2021 06:19 AM IST
According to a report by HSBC Global Research, Reliance Industries’ AGM has historically been a keenly watched event, given that it has been one of the top three companies by market capitalization in India and has a large free float and a large public shareholding.
Saudi Energy Minister Prince Abdulaziz bin Salman has urged fellow members of OPEC+ to be cautious as the group eases supply cuts started last year when the pandemic was hammering energy markets.(AP)
Saudi Energy Minister Prince Abdulaziz bin Salman has urged fellow members of OPEC+ to be cautious as the group eases supply cuts started last year when the pandemic was hammering energy markets.(AP)

Saudi lowers oil prices for Asia as India faces second wave of Covid-19

Bloomberg |
PUBLISHED ON MAY 05, 2021 07:40 PM IST
The 23-nation cartel plans to increase daily output by just over 2 million barrels through to July, beginning with 600,000 this month. That would still leave production roughly 5 million barrels a day below pre-pandemic levels.
Aramco produced some 9.2 million barrels a day in 2020, compared to a current average of 8.6 million barrels a day for the first-quarter of 2021.(Reuters file photo)
Aramco produced some 9.2 million barrels a day in 2020, compared to a current average of 8.6 million barrels a day for the first-quarter of 2021.(Reuters file photo)

Saudi Aramco's profits rise by 30% in first quarter

AP | | Posted by Harshit Sabarwal, Dubai
PUBLISHED ON MAY 04, 2021 02:25 PM IST
The company's financial results show a net income of $21.7 billion for the first three months of the year, compared to the same period in 2020 when Aramco's earnings plunged to $16.7 billion as the early effects of the coronavirus pandemic were beginning to dramatically drive down global demand for oil.
The state-controlled company’s public figures offer key insight into the financial health of the kingdom, which relies on the energy sector for 80% of its exports and two-thirds of its financial revenues. (Representative Image)(REUTERS)
The state-controlled company’s public figures offer key insight into the financial health of the kingdom, which relies on the energy sector for 80% of its exports and two-thirds of its financial revenues. (Representative Image)(REUTERS)

Saudi oil giant Aramco reports 30% drop in payments to state

AP |
PUBLISHED ON MAR 22, 2021 05:34 PM IST
Saudi Arabian Oil Co, the kingdom’s largest taxpayer, transferred $110 billion to the government in 2020, down from nearly $159 billion the year before. The kingdom's 2021 budget plans to spend $263 billion, showing the significance of Aramco's payments to state coffers.
A view shows the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019.(REUTERS)
A view shows the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019.(REUTERS)

Oil giant Saudi Aramco sees 2020 profits drop to $49 billion

AP | , Dubai
UPDATED ON MAR 21, 2021 11:35 AM IST
Saudi Arabian Oil Co. on Sunday released its financial results a year after the pandemic sent the price of oil crashing to all-time lows as people stopped moving around the world to slow the spread of the virus.
This month, Saudi Arabia intercepted a barrage of drones targeting its oil infrastructure.(REUTERS / File)
This month, Saudi Arabia intercepted a barrage of drones targeting its oil infrastructure.(REUTERS / File)

Missiles in Aramco attacks were made in Iran: Saudi Arabia

Bloomberg |
PUBLISHED ON MAR 20, 2021 04:31 PM IST
  • The Houthis said earlier Friday they struck an Aramco refinery in the Saudi capital using six bomb-laden drones.
Saudi Arabia condemned the attack in strong terms, saying the assault targeted “the security and stability of the world’s energy supplies.”(REUTERS)
Saudi Arabia condemned the attack in strong terms, saying the assault targeted “the security and stability of the world’s energy supplies.”(REUTERS)

Drone strike on Riyadh oil refinery claimed by Houthis sparks fire: Saudi Arabia

AP | , Dubai
PUBLISHED ON MAR 19, 2021 07:57 PM IST
  • Earlier on Friday, Yemen’s Iran-backed Houthi rebels reported that they’d fired six drones at a facility belonging to Saudi Aramco, the kingdom’s oil giant
Flames are seen at the production facility of Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia.(REUTERS / File Photo)
Flames are seen at the production facility of Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia.(REUTERS / File Photo)

Saudi Arabia to ship gas to South Korea and take carbon dioxide back

Bloomberg |
PUBLISHED ON MAR 03, 2021 08:35 PM IST
Saudi Aramco uses carbon dioxide to pump more oil out of the ground in a process known as enhanced oil recovery.
Known for his elegant manner and trademark goatee beard, Yamani's 24-year tenure running the oil affairs of the world's biggest crude producer made him a global celebrity during the inflationary "oil shocks" of the 1970s.(AP)
Known for his elegant manner and trademark goatee beard, Yamani's 24-year tenure running the oil affairs of the world's biggest crude producer made him a global celebrity during the inflationary "oil shocks" of the 1970s.(AP)

Yamani, the Saudi oil minister who brought the West to its knees

Reuters | , Dubai
PUBLISHED ON FEB 23, 2021 02:42 PM IST
Yamani was a witness to the 1975 murder of the Saudi king who had plucked him, a non-royal, from obscurity to be oil minister.
Flames are seen at the production facility of Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia.(Reuters)
Flames are seen at the production facility of Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia.(Reuters)

Saudi Aramco seeks $7.5 billion loan for pipeline investors

Bloomberg |
PUBLISHED ON JAN 13, 2021 11:30 AM IST
Aramco, which for years maintained only minimal corporate debt, is increasingly tapping new sources of funding as it looks to maintain annual dividend payments of $75 billion at a time of lower oil prices. Most of those payouts go to the Saudi state, which needs the money to fund its budget.
A general view shows the damage at a Saudi Aramco oil company distribution station that Yemeni Houthis say they attacked, in the city of Jeddah, Saudi Arabia.(REUTERS)
A general view shows the damage at a Saudi Aramco oil company distribution station that Yemeni Houthis say they attacked, in the city of Jeddah, Saudi Arabia.(REUTERS)

Saudi Aramco says no one hurt in blast, fire from missile strike

By Bloomberg | Posted by Arpan Rai
PUBLISHED ON NOV 24, 2020 02:57 PM IST
No one was hurt in the explosion or blaze, and supplies from the facility in Saudi Arabia’s second-biggest city were not interrupted, an Aramco official said Tuesday, asking not to be identified due to company policy.
Earlier in July, Reuters had reported that Reliance’s stake sale in its oil-to-chemicals business to Aramco had stalled over price.(Reuters file photo)
Earlier in July, Reuters had reported that Reliance’s stake sale in its oil-to-chemicals business to Aramco had stalled over price.(Reuters file photo)

Reliance’s stake sale talks with Saudi Aramco gaining momentum: Report

Bengaluru | By Reuters| Posted by: Harshit Sabarwal
UPDATED ON NOV 09, 2020 12:27 PM IST
Both the companies were committed to the deal and Aramco wants to do physical inspection of Reliance’s assets in India, the report said. Earlier in July, Reuters had reported that Reliance’s stake sale in its oil-to-chemicals business to Aramco had stalled over price.
The Ant Group’s Shanghai stock was priced at 68.8 yuan (USD 10.26) each, while its Hong Kong stock is priced at 80 Hong Kong dollars apiece (USD 10.32), according to filings on Monday.(Bloomberg file photo)
The Ant Group’s Shanghai stock was priced at 68.8 yuan (USD 10.26) each, while its Hong Kong stock is priced at 80 Hong Kong dollars apiece (USD 10.32), according to filings on Monday.(Bloomberg file photo)

Ant Group could raise nearly USD 35B in record share offering

Hong Kong | By Press Trust of India | Posted by Deepali Sharma
UPDATED ON OCT 26, 2020 08:39 PM IST
The company will raise about USD 34.5 billion from the share offering, which is expected to surpass oil company Saudi Aramco’s USD 29 billion share sale last year, making Ant Group’s offering the biggest in the world.
Jack Ma said the financial and regulatory system stifles innovation, calling for a revamp to extend financial services to more small firms and individuals on the basis of technology(REUTERS)
Jack Ma said the financial and regulatory system stifles innovation, calling for a revamp to extend financial services to more small firms and individuals on the basis of technology(REUTERS)

Ant Group IPO pricing ‘history’s largest’, says Alibaba’s Jack Ma

Shanghai | By Reuters| Posted by Ayshee Bhaduri
UPDATED ON OCT 24, 2020 05:14 PM IST
Sources have said the listing could be worth $35 billion,surpassing the record set by Saudi Aramco’s $29.4 billion float last December
An employee looks on at a Saudi Aramco oil facility in Abqaiq, Saudi Arabia.(REUTERS)
An employee looks on at a Saudi Aramco oil facility in Abqaiq, Saudi Arabia.(REUTERS)

Saudi Arabia’s financial woes mean it’s squeezing cash cow Aramco

By Bloomberg | Posted by Arpan Rai
PUBLISHED ON SEP 09, 2020 02:36 PM IST
Even with crude dropping below $40 a barrel this week and its cash flow plunging, Saudi Aramco is trying to pay a $75 billion dividend this year, almost all of it to the state.
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia(Reuters File Photo)
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia(Reuters File Photo)

Saudi Aramco discovers two oil, gas fields in north of kingdom

By Bloomberg | Posted by Kanishka Sarkar
UPDATED ON AUG 30, 2020 07:00 PM IST
Aramco said it will drill more wells to evaluate how much energy the fields hold.
Oil tanks at a Saudi Aramco oil facility in Abqaiq, Saudi Arabia.(Reuters)
Oil tanks at a Saudi Aramco oil facility in Abqaiq, Saudi Arabia.(Reuters)

Aramco still aims for $15 billion deal with India’s Reliance

By Bloomberg | Posted by Arpan Rai
UPDATED ON AUG 10, 2020 06:20 PM IST
Reliance’s shares fell in mid-July after Chairman Mukesh Ambani said a transaction had been delayed “due to unforeseen circumstances in the energy market and the Covid-19 situation.”
Pedestrians wearing protective masks walk past an Apple Inc. store in the Omotesando district of Tokyo, Japan.(Bloomberg File Photo)
Pedestrians wearing protective masks walk past an Apple Inc. store in the Omotesando district of Tokyo, Japan.(Bloomberg File Photo)

Apple tops Saudi Aramco as most valuable publicly listed company

By Reuters | Posted by Kanishka Sarkar
UPDATED ON AUG 01, 2020 09:38 AM IST
With Friday’s stock gain, Apple’s has surged about 45% year to date, with investors betting that it and other major US technology companies will emerge from the coronavirus pandemic stronger than smaller rivals.
Reliance’s shares have jumped 43% this year compared with a 39% drop in Exxon’s shares as refiners across the globe struggled with a plunge in fuel demand.(Reuters file photo)
Reliance’s shares have jumped 43% this year compared with a 39% drop in Exxon’s shares as refiners across the globe struggled with a plunge in fuel demand.(Reuters file photo)

Reliance overtakes ExxonMobil to become world’s second largest energy company

By Bloomberg| Posted by: Harshit Sabarwal
PUBLISHED ON JUL 27, 2020 07:23 AM IST
Reliance, which manages the biggest refinery complex, gained 4.3% in Mumbai on Friday adding $8 billion to take its market value to $189 billion, while Exxon Mobil erased about $1 billion
Aramco’s oil- and gas-production operations have a carbon intensity of 10.1 kilograms of carbon dioxide per barrel, which is one of the lowest in the industry, a spokesperson said in a statement on Thursday.(Reuters file photo)
Aramco’s oil- and gas-production operations have a carbon intensity of 10.1 kilograms of carbon dioxide per barrel, which is one of the lowest in the industry, a spokesperson said in a statement on Thursday.(Reuters file photo)

Saudi Aramco joins Exxon, BP, Shell in pledging to curb emissions

By Bloomberg| Posted by: Harshit Sabarwal
PUBLISHED ON JUL 16, 2020 01:30 PM IST
Members of the Oil & Gas Climate Initiative, a group of big oil companies working on ways to respond to climate change, pledged to reduce the carbon intensity of their operations to between 20 and 21 kilograms of carbon dioxide per barrel of crude equivalent by 2025.
RIL’s 43rd annual general meeting will be held virtually amid the ongoing crisis coronavirus pandemic and will be watched by shareholders from 500 locations in India and abroad.(REUTERS)
RIL’s 43rd annual general meeting will be held virtually amid the ongoing crisis coronavirus pandemic and will be watched by shareholders from 500 locations in India and abroad.(REUTERS)

Reliance’s 43rd AGM tomorrow. Here’s what to watch out for

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Meenakshi Ray
PUBLISHED ON JUL 14, 2020 04:03 PM IST
The AGM is being also held after the company’s record-breaking deal spree for Jio Platforms, the company’s digital arm.
Aramco didn’t immediately comment on the delay. The company’s pricing is a key indicator for traders since it affects about 14 million barrels a day of Persian Gulf crude exports(Reuters file photo)
Aramco didn’t immediately comment on the delay. The company’s pricing is a key indicator for traders since it affects about 14 million barrels a day of Persian Gulf crude exports(Reuters file photo)

Aramco delays oil pricing statement as OPEC+ talks continue

By Bloomberg
UPDATED ON APR 11, 2020 07:06 PM IST
State producer Saudi Aramco is set to decide on and announce pricing for May crude exports on Sunday, according to people with knowledge of the situation.
The results come as Aramco now trades a sliver of its worth on Riyadh’s Tadawul stock exchange.(Reuters File Photo)
The results come as Aramco now trades a sliver of its worth on Riyadh’s Tadawul stock exchange.(Reuters File Photo)

Saudi Aramco’s net income drops to $88.2 billion in 2019

Riyadh | By Associated Press
UPDATED ON MAR 15, 2020 01:06 PM IST
Saudi Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, it said in the statement to the Saudi Stock Market.
Saudi traders chat as they follow a screen displaying Saudi stock market values at the Arab National Bank in Riyadh, Saudi Arabia, Thursday, Dec. 12, 2019.(AP photo for representation)
Saudi traders chat as they follow a screen displaying Saudi stock market values at the Arab National Bank in Riyadh, Saudi Arabia, Thursday, Dec. 12, 2019.(AP photo for representation)

Saudi Aramco inches near $2 trillion in day 2 of trading

Riyadh, Saudi Arabia | By Associated Press
UPDATED ON DEC 12, 2019 07:16 PM IST
Shares jumped in trading to reach up to 38.60 Saudi riyals, or $10.29 before noon, three hours before trading closes.
Saudi Arabia’s state-owned oil giant Aramco revealed it will sell up to 0.5% of its shares to individual investors(REUTERS)
Saudi Arabia’s state-owned oil giant Aramco revealed it will sell up to 0.5% of its shares to individual investors(REUTERS)

Saudi Aramco takes another step toward first public offering

Dubai | By Associated Press
UPDATED ON NOV 10, 2019 10:26 AM IST
The oil and gas company had profits of $111 billion last year, more than Apple, Royal Dutch Shell and Exxon Mobil combined.
Saudi Aramco’s board is expected to give final approval for the share sale this week.(Facebook/ Saudi Aramco)
Saudi Aramco’s board is expected to give final approval for the share sale this week.(Facebook/ Saudi Aramco)

Saudi stocks fall as traders prepare for Aramco’s IPO

Bloomberg | By Filipe Pacheco
PUBLISHED ON OCT 14, 2019 12:32 PM IST
Even though a timeline for the IPO is not defined, some investors could be already raising liquidity for the sale, said Ali Taqi and Vishal Gupta, from Rasmala Investment Bank in Dubai.
Saudi Arabia is looking at invest in India in the areas of petrochemicals, infrastructure, mining.(AP Photo)
Saudi Arabia is looking at invest in India in the areas of petrochemicals, infrastructure, mining.(AP Photo)

Saudi Arabia looking at investing $100 billion in India

New Delhi | By Press Trust of India
UPDATED ON SEP 29, 2019 03:31 PM IST
Saudi Arabia’s biggest oil giant Aramco’s proposed partnership with Reliance Industries Ltd reflected the strategic nature of the growing energy ties between the two countries, said Saudi Ambassador Dr Saud bin Mohammed Al Sati.
US President Donald Trump doused recent optimism over China-US trade talks and reignited concerns about global economic growth.(Reuters Photo)
US President Donald Trump doused recent optimism over China-US trade talks and reignited concerns about global economic growth.(Reuters Photo)

Oil extends losses after Donald Trump douses trade talk optimism

Singapore | By Reuters
UPDATED ON SEP 25, 2019 10:50 AM IST
Brent crude futures fell 47 cents to $62.63 a barrel by 0442 GMT, while US West Texas Intermediate crude dropped to $56.94, down 35 cents. Both benchmarks have fallen to their lowest level since before the attack on Saudi Arabian oil facilities on Sept. 14.
Oil prices remained at comparatively elevated levels for the year in the wake of the Sept. 14 attack on Saudi Arabia’s largest oil processing facility that halved output in the world’s top oil exporter.(AP Photo)
Oil prices remained at comparatively elevated levels for the year in the wake of the Sept. 14 attack on Saudi Arabia’s largest oil processing facility that halved output in the world’s top oil exporter.(AP Photo)

Oil slips as focus shifts from Saudi supply to global demand concerns

Singapore | By Reuters
UPDATED ON SEP 24, 2019 11:04 AM IST
Saudi Arabia has restored more than 75% of crude output lost after the attacks on its facilities and will return to full volumes by early next week. But the Wall Street Journal reported on Monday that repairs at the plants could take months longer than anticipated.
Britain's Prime Minister Boris Johnson will also discuss the attacks at a joint meeting with French President Emmanuel Macron and German Chancellor Angela Merkel.(Reuters Photo)
Britain's Prime Minister Boris Johnson will also discuss the attacks at a joint meeting with French President Emmanuel Macron and German Chancellor Angela Merkel.(Reuters Photo)

UK PM Boris Johnson says Iran behind attacks on Saudi oil sites

London | By Agence France-Presse
UPDATED ON SEP 23, 2019 01:44 PM IST
British Prime Minister Boris Johnson is due to meet with Iran President Hassan Rouhani at the UN General Assembly in New York.
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