Arabian Pipes Co. (SASE:2200) entered into a 62 million-Saudi-riyal contract with Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.
Under the agreement, the Saudi-listed steel tube manufacturer will produce and deliver steel pipes to the oil giant for a period of 10 months, according to a Sunday release.
Saudi Aramco Base Oil Co. (SASE:2223), d/b/a Luberef, said Sunday that Chairman Ibrahim Al-Buainain stepped down, effective May 21, due to personal reasons.The Tadawul-listed base oil producer will appoint Yasser Mufti as chairman to complete the current board's term, which ends on Aug. 14, 2027, subject to the general assembly's approval. Mufti serves as the executive vice president of products and customers at Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.
Costco Wholesale (COST) said Friday its gas stations set all-time fuel sales volume records during the fiscal Q3 as consumers sought lower-priced gasoline amid rising fuel costs."Nowhere has this been more apparent in the third quarter than our gas business," Chief Executive Ron Vachris said on the company's earnings call, reported by Fox Business News."The result was record-breaking volumes. All three four-week fiscal periods of the quarter set successive all-time company volume sales records, with the final five weeks of the quarter becoming our top five volume weeks ever."Vachris said higher fuel prices and supply disruptions linked to events in the Middle East drove demand, adding that many members used Costco gas stations for the first time during the quarter.
Devon Energy (DVN) received an $8 billion offer from Stone Ridge Asset Management for its Marcellus shale assets in Pennsylvania, Reuters reported Friday, citing four people familiar with the matter.Devon hasn't made any decision on the assets after merging earlier this month with Coterra Energy, the report said.Stone Ridge made the offer to initiate talks about a deal with Devon, the report said.Devon and Stone Ridge did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)