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Asia Markets

Saudi Equities Close Out Week Higher as US Inflation Takes Spotlight

The Tadawul All Share Index ended the week 0.27% higher on Thursday as investors focused on the US' latest inflation print and its effects on the next rate moves of the US Federal Reserve.The US annual inflation rate rose to 4.2% in May, compared with 3.8% in April. Additionally, the core rate also climbed to 2.9% from 2.8% in the prior month."Broadly speaking, while results from the latest CPI report came in a touch softer than consensus expectations, underlying inflation still remains well above the FOMC's 2 percent inflation objective, which will seemingly keep policymakers squarely on the sideline for at least the next several meetings," Daiwa Capital Markets said in a note. "However, with the war's ultimate impact on the economy and interest rates remaining highly uncertain, policymakers will endeavor to be nimble in their approach - especially as a new Fed Chair presides over his first FOMC meeting next week."Also making headlines during the session are the latest attacks made by Iran and the US against each other. Iran, again, struck US bases in the Middle East, while the US targeted air defense sites, communication systems, and military surveillance.Back at home, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, will reportedly ship 12 million barrels of oil to China in July as the country is said to keep its crude oil sales to the Asian nation at record lows. Shares of the oil giant closed at 0.44% higher.Meanwhile, Alinma Bank (SASE:1150) edged up 0.65% as it concluded its 12-month share repurchase program for its employee stock incentives plan. The lender purchased 122.6 million Saudi riyals worth of shares at an average price of 24.51 riyals apiece.

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Equities

Market Chatter: Saudi Crude Sales to China Said to Remain at Record Lows in July

Saudi Arabia's crude oil shipments to China are expected to continue at record lows in July amid higher prices triggered by the Middle East conflict, Reuters reported Thursday, citing unnamed sources.State-run oil group Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, is set to export 12 million barrels of oil to Chinese customers for July loading, the sources told the newswire.Aramco did not immediately respond to a request 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.)

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Asia Markets

Tadawul Shares End Monday Higher Ahead of Saudi Q1 GDP Growth Rate Data

The Tadawul All Share Index closed Monday 0.41% in the green as investors await Saudi Arabia's latest GDP growth rate numbers on Tuesday.Aside from the upcoming economic releases, which include China's latest inflation print for May, investors are also focusing on the Middle Eastern conflict.Reuters reported that Israel and Iran launched attacks against each other. The Israeli side struck a petrochemical facility, while the Iranian side launched a retaliatory strike against a similar facility in Israel."Iran targeted Israel with a missile attack yesterday after an Israeli strike in Beirut, while Israel's military has responded with strikes against targets in Iran overnight. The IRGC warned yesterday evening that its actions would mark 'a full week of continuous strikes', but there are also signs that the sides are looking to avoid a full escalation, with Axios reporting Israel strikes were 'relatively limited' in scope and Iranian state media denying that it launched a strike towards a US airbase in Saudi Arabia after a missile alert there," Deutsche Bank Research said in a note.Also affecting sentiment is the decision of OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, to increase crude production by 188,000 barrels per day in July. Saudi Arabia, the de facto leader of the group, will be required to produce 10.4 million barrels per day during the month.Against this backdrop, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, lowered its main crude oil prices for its buyers in North West Europe, Mediterranean, North America, and Asia in July. Aramco shares ticked up 0.59% at closing.Meanwhile, Bank AlJazira (SASE:1020) shares closed 0.70% higher as it disclosed its plans to redeem its tier 1 capital certificates worth $500 million on June 29.

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Equities

Saudi Aramco Slashes Main Crude Oil Prices in July

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, said Monday it will lower certain main crude oil prices in July, compared with June.According to a price list from the Saudi state-owned oil giant, North West Europe and Mediterranean price tags were reduced by $10.Meanwhile, prices of its crude grades for buyers in North America were cut by $2, while those for Asian buyers were lowered by $6.

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Equities

Gas Arabian Services Enters In-Plant Services Deal with Saudi Aramco

Gas Arabian Services Co. (SASE:4146) entered into a long-term agreement with oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, for its in-plant services.The multi-industry engineering services company will provide its mechanical, piping, instrumentation, communication, painting, and civil and structural services, according to a Wednesday release.The six-year contract can be extended for two additional periods of three years each.

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Equities

Saudi Steel Pipe Wins SAR65 Million Contract from Saudi Aramco

Saudi Steel Pipe Co. (SASE:1320) secured a 65 million-Saudi-riyal contract from oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.The deal covers delivery of oil and gas steel pipes for up to 12 months, the welded steel pipes manufacturer said Monday.

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Asia Markets

Tadawul Shares Close Higher After Week-long Eid Holidays; Senaat Unit Plans Main Market Listing

The Tadawul All Share Index closed 0.29% in the green on Sunday as investors assessed a potential new listing, among other corporate announcements.Saudi Industrial Development Co. (SASE:2130), d/b/a SIDC, gained the most at 9.98% during the session, which resumed after a week-long hiatus for Eid.Gulf Insulation Group, a unit of Advanced Building Industries (SASE:2240), d/b/a Senaat, filed an application with the Saudi Exchange to list its shares on the main market, sending the Saudi builder's stock up 2.49% at closing.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, to produce and deliver steel pipes to the oil giant for 10 months. The steel tube manufacturer's shares rose 2.32%, while Aramco's shares fell 1.29%.In broader news, Saudi ​Arabia may reduce oil prices for Asian buyers again in July as the potential for a US-Iran deal to end the war and reopen the Strait of Hormuz weakens demand, Reuters reported, citing a survey of unidentified industry sources. The July official selling price for flagship Arab Light crude could decline to a premium of $7.50 to $12.50 per barrel ​above the average Dubai and Oman quotes, $3 to $8 a ​barrel below the June OSP.At the same time, US Defense Secretary Pete Hegseth said on May 30 that the administration is prepared to resume attacks on Iran if Washington and Tehran can not enter an agreement. At the Asian forum for defense leaders Shangri-La Dialogue, Hegseth added the US is "more than capable," with stockpiles "both there and around the globe.""The Middle East has been subject to heightened uncertainty and disruption since end-February, due largely to the Iran war," Fitch Ratings said. "There have been no Middle East issuer downgrades since end-February, but Fitch has placed several ratings on Rating Watch Negative and revised some Outlooks to Negative from Stable, or to Stable from Positive. These actions point to the persistence of significant risks around the war that, if crystallised, could lead to broader rating downgrades."

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Equities

Arabian Pipes Signs SAR62 Million Steel Pipes Contract with Saudi Aramco

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.

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Equities

Luberef Chairman Resigns; Aramco Executive to Succeed

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.

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Equities

Saudi Aramco, US-based Emerson to Co-develop Corrosion Management Systems

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, and US-based industrial automation company Emerson agreed to co-develop corrosion management systems, according to a Wednesday filing.The Saudi oil giant will integrate its intellectual property with Emerson's corrosion wall thickness monitors, wireless connectivity, and real-time data analytics to develop a corrosion management system for its processes and operations.

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Equities

Lulu Retail Opens Four New Mini Market Stores in Saudi Arabia

Lulu Retail (ADX:LULU) opened four new mini market stores in Saudi Arabia, consistent with the group's expansion strategy in the Gulf Cooperation Council.The Abu Dhabi-listed retailer's new stores are located at Ar Rabi and Khurais Road metro stations and Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, gas station in Riyadh, as well as at an Abu Dhabi National Oil Co, or Adnoc, gas station in Dammam, according to a Monday release.

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Equities

Saudi Aramco to Exit JVs with Malaysia's Petronas

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, agreed to transfer its stake in two joint venture companies to Malaysia's Petroliam Nasional, or Petronas.Following the transfer, Petronas will own 100% of Pengerang Refining Co. and Pengerang Petrochemical Co., both located in the Pengerang Integrated Complex in Johor, Malaysia, according to a Monday release.The companies plan to continue exploring commercial arrangements, including coordinated crude oil supply, technology exchange and integrated product distribution.

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Equities

Saudi Aramco Hikes LPG Contract Prices for June

Saudi Arabian Oil Company (SASE:2222), d/b/a Saudi Aramco, flagged higher monthly contract prices for liquefied petroleum gas in June, according to a statement on Monday.The state-run oil company set contract prices at $760 per metric tonne for propane and at $820 per metric tonne for butane. In May, propane sold at $750 per metric tonne, while butane sold at $800 per metric tonne.

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Equities

Saudi Aramco Kept at Buy as BofA Notes Supply Reliability, 'Healthy' H2 Demand Outlook

BofA Global Research reiterated its investment case for Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, noting management commentary on "bullish" second-half oil demand outlook and its supply stability."We hosted Aramco's Investor Relations team for a fireside chat. The team highlighted: 1) company's supply reliability supported by best in class fields and the East West (EW) pipeline, 2) ability to ramp-up production quickly post resolution, 3) focus on capturing incremental value by exporting refined products from the West Coast (WC), 4) healthy seasonal oil demand into 2H with depleted inventories, 5) reiteration of capital investment guidance of US$50-55bn for FY26E. We maintain Buy: shares trade on a 2027E PE of 13x, c.20% discount to average since IPO, while offering a 2027E/28E dividend yield of c.6%," according to a Thursday note.The research firm noted that the oil giant avoided production shut-ins impacting some of its peers by lowering production of heavier crudes and prioritizing light crude movement through the East-West pipeline.Amid a cumulative supply loss of 880 million barrels since late February and rising oil prices, the report highlighted Aramco's positive demand outlook for the latter half of 2026, further bolstered by the lack of a "material increase" in production from non-Gulf Cooperation Council producers.The stock has a price objective of 34.50 Saudi riyals.

SASE:2222
Equities

Arabian Pipes Wins SAR48 Million Steel Pipes Contract from Saudi Aramco

Arabian Pipes Co. (SASE:2200) secured a 48 million-Saudi-riyal contract from oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.The eight-month deal covers the production and delivery of steel pipes, the steel tube manufacturer said Thursday.

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Equities

United Securities Upgrades Saudi Aramco Rating, Price Target After Strong Q1 Earnings

United Securities LLC upgraded Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to buy following the oil giant's first-quarter results."Saudi Aramco started the year on a strong note, with both topline and bottom-line performance exceeding our forecasts. Improved downstream margins were the primary driver behind the earnings beat," analysts said Monday.Thanks to stronger-than-expected oil price realizations, Saudi Aramco logged a 6.8% annual increase in revenue to 433 billion riyals, higher than the research firm's estimates by 8.7%. The company's net income stood at 120 billion riyals, up 25.6% year over year, and above the research firm's forecast."Looking ahead, we expect the company's revenue growth to remain constrained by lower volumes amid the ongoing regional conflict and its impact on global oil supply. Management has indicated that supply normalization may only occur in 2027 if current disruptions persist. Aramco has partially mitigated these challenges by ramping up its existing infrastructure, including the East-West pipeline, utilizing new crude export outlets at Rabigh, and reconfiguring infrastructure to supply crude to select West Coast refineries," analysts added.The stock's price target also increased to 31 riyals.

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Asia Markets

Tadawul Shares Extend Losing Streak on Middle Eastern Geopolitical Jitters

Saudi Exchange-traded shares closed Monday lower as the possible re-escalation of the Middle Eastern conflict pushed the Tadawul All Share Index 0.11% in the red.The continued geopolitical tensions in the Middle East dampened sentiment as both Saudi Arabia and the United Arab Emirates reported drone strikes on Sunday. Saudi Arabia intercepted three drones, while its neighbor suffered damage to a nuclear power plant.Investors are also raising their concerns about the agreement stalemate between the US and Iran. US President Donald Trump warned on his Truth Social account that Iran should "get moving, fast, or there won't be anything left of them.""The oil market continues to reprice ongoing supply disruptions, with last week's Trump-Xi talks yielding no tangible progress in the Middle East. There had been hope (possibly misplaced) that China could use its influence over Tehran to break the deadlock between the US and Iran," ING said in a note.Back at home, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, shares closed flat as it launched the kingdom's first-ever quantum computer and quantum-computing-as-a-service platform. The development is part of the state-owned oil giant's partnership with neutral-atom quantum computing company Pasqal.Meanwhile, Ataa Educational (SASE:4292) logged a 35.767% year-over-year climb in attributable profit and a 2.317% annual decline in revenue for the fiscal third quarter. The net profit increase was attributed to the suspension of the operations of its training and recruitment sectors. Shares of the educational services company closed 0.57% lower.

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Equities

Saudi Aramco, Pasqal Inaugurate Saudi Arabia's First Quantum Computer

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, and France-headquartered Pasqal jointly launched Saudi Arabia's first quantum computer, along with the release of the first commercial quantum computing-as-a-service platform in the Middle East.The development allows the oil giant to advance a roadmap of use cases on the production-ready version of Pasqal Quantum Processing Unit for its programs across energy, materials, and industrial operations, according to a Monday release.The latest development builds on the parties' initial partnership agreement in May 2024.

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Equities

Update: Market Chatter: Saudi Aramco Likely to Raise Up to $35 Billion from Asset Deals

(Updates to add Saudi Aramco's statement)Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, could raise as much as $35 billion from asset deals following demand from funds, Bloomberg News reported Friday, citing people familiar with the matter.The state-owned oil giant's assets are considered lucrative and could attract interest from Wall Street firms despite the Middle East conflict, the report said.Aramco declined to comment when reached by.(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.)

SASE:2222
Equities

Market Chatter: Saudi Aramco Likely to Raise Up to $35 Billion from Asset Deals

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, could raise as much as $35 billion from asset deals following demand from funds, Bloomberg News reported Friday, citing people familiar with the matter.The state-owned oil giant's assets are considered lucrative and could attract interest from Wall Street firms despite the Middle East conflict, the report said.Aramco did not immediately respond to a request 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.)

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