Saudi Arabia Refineries (SASE:2030), d/b/a Sarco, unit Refineries Venture Co. agreed to purchase a 33% stake in Global Waste Solutions from Khadra Al-Hijaz Environmental Services Co.
The memorandum of understanding signed for the deal is valid for three months, the petroleum refining company said Sunday.
Sarco added that the deal will expand and develop its subsidiary's activities in caustic and acidic industrial waste, alkaline industrial waste, and oily sludge treatment.
Aegis Logistics' (NSE:AEGISLOG, BOM:500003) consolidated attributable profit rose sharply to 4.10 billion Indian rupees in the fiscal fourth quarter ended March 31, from 2.82 billion rupees a year ago.Earnings per share climbed to 11.69 rupees from 8.02 rupees a year earlier, the oil and gas logistics company said in a filing to the Indian bourses on Friday.Revenue from operations in fiscal Q4 also rose to 25.9 billion rupees from 17.1 billion rupees a year ago.The company's board recommended a final dividend of 6.70 rupees per share of face value of 1 rupee each for the financial year ended March 31.
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.