82 stories mentioning SASE:2222Updated 15h ago
Every FINWIRES story that references SASE:2222, newest first.
Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, raised the monthly contract prices for liquefied petroleum gas for August.The Saudi state-owned oil giant set its contract prices for propane at $620 per metric tonne and butane at $640 per metric tonne, according to an emailed statement on Thursday.In July, Aramco's contract prices were $580 per metric tonne for propane and $600 per metric tonne for butane.
Satellite images showed a fire at a tank within Saudi Arabian Oil Co.'s (SASE:2222), d/b/a Saudi Aramco's, Jazan oil refinery, Bloomberg News reported Monday.The incident follows claims from Yemen's Houthi militant group that it attacked the facility over the weekend. However, it was not clear whether the incident impacted the site's operations, according to the report.Saudi Arabia's Ministry of Energy and state-run oil giant Aramco 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.)
The Tadawul All Share Index started the week 0.34% in the red as the escalating conflict in the Middle East dampened investor sentiment on Sunday.Yemen's Houthis launched attacks on Saudi Arabian oil installation structures on the Red Sea coast. The attacks struck Jizan- and Yanbu-based infrastructure that was owned by Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, media reports said. Aramco shares closed 0.89% lower at closing.Saudi Arabia's merchandise exports in May increased 3.9% year over year, while non-oil exports dropped 26.1%. Imports, meanwhile, declined 19.5% during the period, according to a report by the General Authority for Statistics. The report also confirmed China as the kingdom's main merchandise trading partner."The ratio of non-oil exports (including re-exports) to imports decreased in May 2026, reaching 33.8% compared with 36.8% in May 2025. This decrease was driven by a 26.1% decrease in non-oil exports, alongside a 19.5% decrease in imports over the same period," the report said. "'Machinery, electrical equipment and parts' were among the most important non-oil export goods, accounting for 22.0% of the total non-oil exports, and decreasing by 31.6% compared with May 2025."On the corporate front, Modern Mills for Food Products Co. (SASE:2284) and Dr. Sulaiman Al Habib Medical Services Group (SASE:4013) posted higher attributable net profit and revenue for the six months ended June 30. Modern Mills closed 0.49% in the red, while Dr. Sulaiman Al Habib Medical Services shares were 3.44% higher.Meanwhile, Anmat Technology for Trading (SASE:9639) shares closed flat as it secured a project worth 113.8 million Saudi riyals to deliver and install specialized equipment to the Ministry of Defense.
Saudi Exchange-traded shares closed the week in the green as Saudi Arabia's new peaceful nuclear partnership with the US pushed the Tadawul All Share Index 0.27% higher on Thursday.The US and Saudi Arabia struck a deal known as a 123 agreement, along with a bilateral safeguards agreement, to boost their cooperation on energy and technologies. The agreement is still subject to the review of the US Congress."The agreement also builds on the longstanding energy cooperation between the two countries, supporting efforts to diversify energy sources, advance cutting-edge technologies, and expand opportunities for cooperation and investment in ways that serve the mutual interests of the two friendly countries," Saudi's Ministry of Energy said.In other news, market watchers are also focusing on the latest updates on the US and Iran conflict. The US launched attacks on Iranian targets, marking the 12th consecutive day of strikes. The attacks targeted Iranian military sites, storage facilities, and air defense assets.On the corporate front, Electrical Industries Co. (SASE:1303) shares jumped 9.93% as it reported a 54.6% rise in net profit and a 32% increase in revenue for the six months ended June 30. The improved net profit was attributed to higher sales and a greater number of sold products with higher profit margins.Meanwhile, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, and the Public Investment Fund's joint ownership of Humain secured the European Commission's clearance as the regulator said the deal would not raise competition concerns. Aramco shares closed 0.98% higher at closing.Looking ahead to next week, the local economic calendar will see the release of the kingdom's May export and import figures on July 26, with the preliminary GDP growth rate data for the second quarter to follow on July 30.
The European Commission approved the joint control of Humain by Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, and Saudi Arabia's Public Investment Fund.The regulator said Thursday the deal, primarily related to the development and management of AI technologies and infrastructure, will not raise competition concerns due to its limited impact on the European Economic Area.
The European Commission cleared the acquisition of joint control over Saudi artificial intelligence company Al-Mustaqbal Lil-Thaka Al-Istinai Co, or Humain, by Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, and sovereign wealth fund Public Investment Fund.The commission said Thursday the proposed transaction would not raise competition concerns due to its limited impact on the European Economic Area and the companies' limited market position after its completion.In October 2025, Aramco and PIF signed a nonbinding term sheet for the oil giant to take a minority stake in Humain.
Saudi Steel Pipe (SASE:1320) received an order worth 92.7 million Saudi riyals from oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.The deal covers the delivery of oil and gas steel pipes for up to 10 months, the welded steel pipes manufacturer said Wednesday.
Arabian Pipes Co (SASE:2200) secured a 68 million-Saudi-riyal contract from Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco.The steel tube company will manufacture, coat, and deliver steel pipes to the Saudi state-owned oil giant for eight months, according to a Wednesday release.
RBC Capital Markets updated its model for Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, adjusting earnings forecasts before the Saudi state-owned oil giant publishes its second-quarter earnings on Aug. 4."We incorporate recent [Organisation of the Petroleum Exporting Countries, or OPEC,] production data into the upstream, which indicates Saudi Arabian crude production at 6.7 [million barrels per day] in 2Q26. Weaker production into 2Q is partly offset by very strong [realizations]. Given the re-closure of the Strait of Hormuz, we also lower our production figures for the rest of the year slightly, which brings our FY26 EPS down slightly (-3%). In the downstream, we expect margins to remain elevated given continued disruptions to the global refining complex, and we adjust our previously conservative refining margin assumptions for the rest of FY26 and FY27. This drives most of our FY27 EPS upgrade (+11%)," according to a Tuesday note.The research firm expects the earnings call to focus on quarterly realizations, Strait of Hormuz transit updates, alternative export routes, and potential pipeline deals with other Gulf nations. Analysts also expect the recent geopolitical tensions to heighten security concerns about the Yanbu terminal, which has served as a critical export route for the country in recent months.RBC maintained the stock's sector perform rating, with a price target of 34 Saudi riyals.
The Tadawul All Share Index closed 0.40% in the red on Tuesday as Iran-aligned Houthis declared a naval blockade on Saudi maritime traffic in the Red Sea, threatening global energy supplies and trade in the Middle East.Crude oil soared to $90.778 per barrel as traders balanced escalating conflict and volatility in the Middle East amid news of a potential 10-day ceasefire proposed by mediators to resume negotiations between Iran and the US."With the Gulf's primary maritime outlet largely closed, the market is increasingly dependent on Saudi Arabia's East-West pipeline and Red Sea terminals to maintain export flows. Any disruption at Bab el-Mandeb would therefore threaten not only Saudi shipments but one of the few remaining routes capable of compensating for the severe reduction in Hormuz traffic," Rystad Energy senior vice president and head of geopolitical analysis Jorge Leon commented. "If a ceasefire does not materialize and Hormuz remains largely closed while the Houthi threat to Red Sea shipping intensifies, the risk of a significant rebound in oil prices would be substantial."At home, AlJazira Capital expects Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to report "steady" second-quarter results with net income expected to jump 39.7% year over year, while revenue is anticipated to rise 12.6%. The Saudi state-owned oil giant's shares declined 0.37% at close.On the earnings front, Alinma Bank (SASE:1150), Al Rajhi Bank (SASE:1120), and the Saudi National Bank (SASE:1180) reported higher year-over-year attributable profit and total operations profit for the first half of 2026. Alinma Bank and Al Rajhi Bank's shares closed 4.43% and 1.84% in the red, respectively, while the Saudi National Bank ended trading 0.62% in the green.Saudi Awwal Bank (SASE:1060), on the other hand, logged a higher net profit for the six months ended June 30, while total operations profit fell year over year. The Saudi Arabia-listed lender's shares fell 0.80% at closing.
AlJazira Capital expects Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to report "steady" second-quarter results on the back of rising oil prices and anticipated improvement in refining margins.The Saudi state-owned oil giant is anticipated to report a 39.7% year-over-year jump in net income, after minority, to 119.6 billion Saudi riyals, while revenue is seen growing 12.6% to 458.5 billion riyals, according to a Tuesday note. For full-year 2026, net income and revenue are projected to increase 38.7% and 13.7% on an annual basis, respectively, to 483 billion riyals and 1.899 trillion riyals."We expect average crude oil prices this year to be higher ~25% Y/Y, while Aramco's flexibility to divert exports from east to west coast will limit the drop in crude oil volumes (-11.0% Y/Y)," the research firm said. "Our estimates assume an average oil price of around USD 85 [per barrel] and hydrocarbon volume of 11.7 [million barrels of oil equivalent per day], including crude oil production of 8.4 [million barrels per day]. Our assumptions are based on energy supply routes and production level returning to normalcy by Q4-26."Analysts at AlJazira Capital maintained their overweight rating and price target of 29.6 riyals on the stock.Saudi Aramco is scheduled to release its first-half results on Aug. 4.
(Updates to include Aramco's statement)The owner and developer of the Aramco Stadium, which is operated by state oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, under a 25-year concession, is looking to bring private investors into the project, Reuters reported July 16, citing three unnamed sources.Public Investment Fund-backed Roshn Group tapped JPMorgan to oversee the equity fundraising and potentially sign a lease and leaseback transaction for the planned stadium in Al Khobar, Saudi Arabia.The development, which is expected to be the venue for the 2034 FIFA World Cup, is scheduled to host its first game in January 2027, after completion by the end of 2026.Saudi Aramco declined to comment on the matter when reached by, while JPMorgan did not immediately respond.(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.)
The owner and developer of the Aramco Stadium, which is operated by state oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, under a 25-year concession, is looking to bring private investors into the project, Reuters reported July 16, citing three unnamed sources.Public Investment Fund-backed Roshn Group tapped JPMorgan to oversee the equity fundraising and potentially sign a lease and leaseback transaction for the planned stadium in Al Khobar, Saudi Arabia.The development, which is expected to be the venue for the 2034 FIFA World Cup, is scheduled to host its first game in January 2027, after completion by the end of 2026.Saudi Aramco and JPMorgan 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.)
The Tadawul All Share Index ended the week higher at 0.15% in the green as the latest geopolitical updates between the US and Iran again took center stage on Thursday.The US launched a wave of attacks on Iran, while also reimposing its naval blockade on the Middle Eastern country's ports. The attacks focused on Iranian bases in the south.Further to this, Iran also sent out attacks on US bases in Kuwait and Jordan. The country warned that if the US continued its attacks, it would launch attacks that would encompass the Gulf region's infrastructure. The escalation raised concerns about another potential oil supply disruption."The US carried out additional strikes against Iran. There are also media reports that the US is considering increasing military operations. Iran, meanwhile, said it has no plans to talk. The rapid deterioration is having a meaningful impact on vessel flows from the Persian Gulf," ING said in a note. "The concern is that renewed oil supply disruptions come amid the large inventory drawdowns through the second quarter, leaving the market more vulnerable. In addition, global SPR releases, which have helped the market out over recent months, are set to end in the next few weeks."Back at home and on the corporate front, Ades Holding (SASE:2382) secured two offshore drilling contracts that will deploy its Shelf Drilling Odyssey and Fortress jackup rigs. Shares of the drilling services company closed 1.33% lower.Meanwhile, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, shares ticked up 0.15% at closing as it awarded an integrated stimulation and completion services contract to energy products and services company Halliburton.
Morgan Stanley on Thursday lowered the price target for Saudi state-owned oil giant Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, to 27.40 Saudi riyals from 28.40 riyals and kept its rating at equal weight.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Lab7, the venture-building arm of Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, invested in food preservation technology company Uvera's seed funding round.Lab7 will also collaborate with Uvera to boost the scalability, data integrity, and commercial deployment of its platform, as well as support the development of its analytics and traceability services, according to a Wednesday release.Other participants included Morgan Stanley Inclusive & Sustainable Ventures and capital investment company Core Vision.
The Tadawul All Share Index closed Thursday lower 0.28% in the red as the escalating geopolitical tensions between Russia and Ukraine dampened investor sentiment.Russia launched drone and missile attacks on Kyiv early Thursday. The attack on the Ukrainian capital resulted in at least 18 fatalities and property damage.Also making waves during the session is the "positive progress" of the two-day indirect US-Iran talks in Doha, Qatar. Qatari Foreign Ministry spokesperson Majed Al-Ansari said in an X post that the next meeting is set to happen after the funeral processions for the late Iranian Supreme Leader Ayatollah Ali Khamenei."As all that was happening, the dovish momentum got further support from the latest decline in oil prices, with Brent crude (-1.85%) falling to a 4-month low of $71.57/bbl. That followed positive headlines on the US-Iran talks, after Jared Kushner and Steve Witkoff were in Qatar on Tuesday. For instance, Trump said that 'They've had very good meetings', and AFP reported yesterday that US and Iranian officials were holding indirect lower-level technical talks with mediators," Deutsche Bank Research said in a note.Back at home, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, has reportedly offered spot pricing options for Asian clients to boost its crude sales and draw demand in the region, Reuters reported. Aramco shares ticked down 0.08% at closing.Meanwhile, Sumou Real Estate (SASE:4323) shares edged up 0.14% at closing as it entered a 36-month deal to provide management work for a mixed-use building project in Jeddah.
Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, offered spot pricing options to its Asian customers to boost its crude exports amid rising competition, Reuters reported Thursday, citing trade sources and shipping data.The state-owned oil group used at least five supertankers to load 10 million barrels of oil from its Ras Tanura port in Saudi Arabia, which resumed operations on June 26, and shipped them through the Strait of Hormuz, with an estimated 6 million barrels of July crude headed for Asia, according to the sources.Saudi 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.)
(Updates to add Aramco's statement)Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, sold at least 6 million barrels of crude oil on a spot basis to clients in East Asia, Bloomberg News reported Wednesday, citing traders with knowledge of the matter.The state-owned oil group, which typically sells supplies through long-term contracts, sold crude on three supertankers headed for South Korea, Japan, and China, the news outlet 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.)
Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, sold at least 6 million barrels of crude oil on a spot basis to clients in East Asia, Bloomberg News reported Wednesday, citing traders with knowledge of the matter.The state-owned oil group, which typically sells supplies through long-term contracts, sold crude on three supertankers headed for South Korea, Japan, and China, the news outlet 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.)
Showing 1-20 of 82
