Saudi Aramco

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Aramco Rides Higher Oil Prices to Nearly $88B in 2022 Earnings
Saudi Oil Profits Jump 90%

Saudi Oil Profits Jump 90%

Big quarter means government is more flush with cash

(Newser) - Saudi energy company Aramco said Sunday its profits jumped 90% in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion. The increase is a boon for the kingdom and the crown prince's spending power as people around the world pay...

Saudis Ready a Huge IPO
Get Ready for a Huge IPO

Get Ready for a Huge IPO

After years of delays, offering of state-owned oil giant Saudi Aramco is finally underway

(Newser) - Saudi Arabia began an initial public offering Sunday of a sliver of oil giant Saudi Aramco after years of delay, hoping international and local investors will pay billions for a stake in the kingdom's crown jewels, reports the AP . An approval by Saudi Arabia's Capital Market Authority served...

Iran: It Wasn't Us
Iran: It Wasn't Us 

Iran: It Wasn't Us

Calls US stance toward Tehran 'maximum lies'

(Newser) - Iran denied on Sunday it was involved in Yemen rebel drone attacks the previous day that hit the world's biggest oil processing facility and an oil field in Saudi Arabia, just hours after Secretary of State Mike Pompeo alleged that Tehran was behind the "unprecedented attack on the...

US Fears Rising Iranian Cyberattacks

Officials believe Iran was behind recent attacks

(Newser) - The US believes that Iran was behind an Aug. 15 cyberattack on Saudi Aramco, Saudi Arabia's state-owned oil company and the world's most valuable firm, and that it was retaliation against the US for unleashing the Stuxnet virus on an Iranian nuclear facility in 2010, the New York ...

In Mideast Desert, a Risky, Costly Hunt for Heavy Crude

As easy oil supplies dwindle, project launched along Saudi-Kuwaiti border

(Newser) - Saudi Arabia and Kuwait have embarked on a risky, expensive hunt for heavy crude—and that might be a bad sign for global oil supplies. For decades these countries have fueled the world with its easy-to-drill light oil supply, but now those reserves are drying up, one Middle East energy...

'Peak Oil' Looms: Saudi Supply Overstated
 'Peak Oil' Looms: 
 Saudi Supply 
 Overstated 
wikileaks reveal

'Peak Oil' Looms: Saudi Supply Overstated

Cable argues that kingdom can't pump enough crude to control prices

(Newser) - The world may be on the verge of an oil crisis, according to WikiLeaks cables released to the Guardian today. According to the cables, Sadad al-Husseini, the former head of Saudi Arabia’s state-run oil monopoly, warned diplomats that Saudi reserves were overstated by almost 40%, and that the country...

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