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Saudi Arabia is gearing up to sell around $20 billion worth of stock in Aramco, the world's most valuable oil company, in a strategic move to fund their ongoing mega-projects. With a market valuation of approximately $1.9 trillion, Aramco continues to remain as a significant player in the global oil industry. The kingdom's efforts to diversify its economy beyond oil are evident through initiatives like #NEOM, a new city, and the development of a global airline #riyadhair. Currently, Saudi Arabia owns over 82% of Aramco, with the Public Investment Fund holding an additional 16%. Exciting times ahead for #SaudiArabia as it paves the way for economic diversification. #Aramco #OilIndustry #EconomicDiversification

🔝🇸🇦Saudi Aramco Has 2 Oil Market🛢️🛢️🛢️Roles That May Conflict⚠️ Recent dynamics in the #oil market also showed how the company-and the country-has to please very different audiences at the same time. #SaudiAramco successfully sold $11.2 billion worth of shares in the company this week, giving the government some much-needed cash and broadening its #investor base to include more European shareholders. But recent dynamics in the oil market also showed how the company-and the country—has to please very different audiences at the same time. Read More...

Comparison of the value of Saudi Aramco and other oil companies in the world Saudi Aramco is almost four times larger than its nearest competitor. As of May 2024, there are only six companies in the world with a trillion dollar valuation, and only one of them is an oil company.

The government-owned Aramco of Saudi Arabia declared on Tuesday that it is abandoning its intentions to increase its daily capacity for producing crude oil from 12 million to 13 million barrels, due to concerns in the market regarding the future demand for oil. Follow for more such content. Stay informed on the latest business news by visiting our website. #globalbusinessandfinancemagazine #businessnews #news #internationalnews #business #globalbusiness #globenews #newsupdates #todaysupdates #latestnews #globalupdates

Exceptional returns from who else? ARAMCO is the world's biggest crude oil exporter. Of course, maintaining its payout at $29.4 billion 👀 is a "strategic move" to support the Saudi government amid a widening budget deficit. By the way, a quick reminder is that despite a 23% drop in third-quarter net income compared to the previous year, Aramco continues to provide crucial income to the Saudi government through generous dividends. 🙌 As we can see... These dividends are essential as Saudi Arabia undertakes expensive projects like Neom (if you need to know more, take a look - https://www.neom.com/en-us) and investments in sporting ventures. While lower oil production has impacted Aramco's earnings due to Saudi Arabia's output reduction to boost oil prices, the market dynamics and weakening physical oil market could influence future decisions. Aramco plans to gradually increase payouts, aligning them with free cash flow to prioritize shareholder returns, a trend observed in other major oil companies like Shell Plc. Source: https://lnkd.in/dcJCiVrC Stay tuned for more #insightswithpablocosta Follow me here: https://lnkd.in/d4uauGJ7 #Aramco #OilIndustry #SaudiArabia #EconomicStrategy #neon

𝐀𝐫𝐚𝐦𝐜𝐨'𝐬 𝐏𝐫𝐨𝐟𝐢𝐭 𝐒𝐥𝐢𝐝𝐞𝐬 𝐭𝐨 $𝟏𝟐𝟏 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑 𝐀𝐦𝐢𝐝 𝐋𝐨𝐰𝐞𝐫 𝐄𝐧𝐞𝐫𝐠𝐲 𝐏𝐫𝐢𝐜𝐞𝐬 Saudi Aramco reported a $121 billion profit for 2023, a drop from 2022's record $161 billion, as energy prices fell. Despite the decline, it's the second highest profit for the company. Lower earnings come as Saudi embarks on diversifying its economy. Aramco boosted dividends to $31 billion in Q4, with revenue hitting $440 billion. #finance #news #Aramco #OilPrices #SaudiEconomy Source:- https://lnkd.in/dsU4iQJb

Saudi aramco reported a 3.4% drop in Q2 profit to $29.07 billion, attributed to reduced crude oil volumes and weaker refining margins. Production remains low at about 9 million barrels per day, below its 12 million bpd capacity, due to OPEC+ cuts. Despite this, Aramco continues to support Saudi Arabia's Vision 2030 with significant investments in projects like NEOM and tourism developments. The company plans to maintain its strong dividend payouts, projecting $124.2 billion in 2024. Aramco’s profits, however, have declined due to lower oil prices and production cuts. #SaudiAramco #OilIndustry #ProfitReport #OPEC #Vision2030 #EnergyNews

As of June 2024 Saudi Aramco has a market cap of $1.870 Trillion. This makes Saudi Aramco the world's 5th most valuable company by market cap according to our data. The market capitalization, commonly called market cap, is the total market value of a publicly traded company's outstanding shares and is commonly used to measure how much a company is worth.

Saudi aramco reported a 3.4% drop in Q2 profit to $29.07 billion, attributed to reduced crude oil volumes and weaker refining margins. Production remains low at about 9 million barrels per day, below its 12 million bpd capacity, due to OPEC+ cuts. Despite this, Aramco continues to support Saudi Arabia's Vision 2030 with significant investments in projects like NEOM and tourism developments. The company plans to maintain its strong dividend payouts, projecting $124.2 billion in 2024. Aramco’s profits, however, have declined due to lower oil prices and production cuts. #SaudiAramco #OilIndustry #ProfitReport #OPEC #Vision2030 #EnergyNews

Saudi Arabia’s government has announced a landmark sale of shares in state oil giant aramco, which could raise up to $13.1 billion as per Reuters estimates. The share sale involves offering 1.545 billion shares, or 0.64% of the company, according to aramco’s filing on the Saudi Exchange. The price range is expected to be between 26.7 to 29 riyals per share ($7.12 to $7.73). Discover how the share sale is transforming aramco's strategy to attract global investors, boost market liquidity, and elevate its position on the global index. Read the full article on Energy Connects. #EnergyConnects #energynews #eneryindustry #news #oott #oilandgasindustry