PROJECT UPDATES: Saudi Aramco shares update on gas, downstream projects
State oil giant Saudi Aramco released an update on its gas and downstream developments in the first quarter 2023 results report. Upstream Hawiyah Gas Plant expansion, part of the Haradh gas increment programme, progressed with its commissioning activities and is expected to be onstream during 2023. The project will provide additional gas processing facilities to […]
Saudi Aramco’s Q1 net profit slips on lower demand and prices
Saudi Aramco posted a year-on-year (YoY) drop in Q1 2023 net profit to $31.9 billion from $39.5 billion as lower demand for oil pressured prices, but said it plans to move ahead with capacity expansion. The profit beat analysts’ mean estimate of $30.84 billion, according to data compiled by Refinitiv’s Eikon. In a regulatory filing […]
Saudi Kingdom Holding invests additional $73mln in American specialty investment firm
Saudi investment firm Kingdom Holding Co. (KHC), which has been on an investment spree in the past few days, has increased its investment by 274.3 million riyals ($73.1 million) in US-based Hercules Capital Inc., a specialty investment company focused on venture lending. The company, owned by Saudi billionaire Prince Alwaleed Bin Talal, said in a […]