SASE:2222

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.

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.

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.

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.

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.

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.

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.

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.

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.)

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.)

Bloomberg: Saudi Aramco Reportedly Plans Up to $35 Billion of Asset Deals

Mubadala Energy-backed Catarus Raises $9.8 Billion Financing for US LNG Project

Mubadala Energy said Friday that Catarus raised $9.8 billion in project financing for a liquefied natural gas export facility in Louisiana, US, and will launch its construction.The Abu Dhabi-based company, which holds a 24.1% stake in the US exploration and production company, also provided equity in the project's financing, alongside its partners ​Kimmeridge and Canada Pension Plan Investment Board.Catarus also secured long-term offtake agreements with global energy and industrial companies, including EQT (EQT.ST), Glencore (GLEN.L, GLN.JO), Mercuria, Petronas, and Saudi Arabian Oil Co.'s (SASE:2222) Aramco Trading.The Commonwealth LNG plant will have a capacity of ​9.5 million tonnes per annum and is expected to start operations in 2030.

BNP Paribas Lifts Saudi Aramco's PT, Affirms Neutral Rating

BNP Paribas on Thursday raised the price target for oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to 28.00 Saudi riyals from 26.50 riyals and kept its rating at neutral.(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)

Market Chatter: Saudi Aramco Mulls Property Deal to Raise $10 Billion

Saudi Arabian Oil Co. (SASE:2222), d/b/a Aramco, is considering a property transaction to raise at least $10 billion, Bloomberg News reported Wednesday, citing people familiar with the matter.The Saudi state-owned oil giant has held early-stage talks over a potential sale-and-leaseback deal for real estate assets, including its headquarters in Saudi Arabia's Eastern Province, according to the report.The company is working with an adviser on the transaction, as it seeks to monetize part of its real estate portfolio while retaining use of the properties.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.)

Kepler Cheuvreux Raises Saudi Aramco's PT, Affirms Hold Rating

Kepler Cheuvreux on Tuesday lifted the price target for oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to 29.50 Saudi riyals from 27.00 riyals and kept its rating at hold.(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)

HSBC Lifts Saudi Aramco's PT, Affirms Hold Rating

HSBC on Tuesday raised the price target for oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to 30.80 Saudi riyals from 29.20 riyals and reiterated its hold rating.(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)

Goldman Sachs Boosts Saudi Aramco's PT, Retains at Buy

Goldman Sachs on Tuesday increased the price target for oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to 32 Saudi riyals from 29 riyals, while retaining its buy rating.(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)

Saudi Aramco FY26 Forecasts Revised as BofA Notes Better-than-Expected Q1 Results

BofA Global Research raised its forecasts for Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, as it incorporated the company's stronger-than-anticipated first-quarter results."We update our model post 1Q26 results to reflect better than expected upstream EBIT, which came 7% higher than BofAe as well as lower taxes. As a result, our FY26E net income has increased by c.3% vs our old estimates, while FY27E and 28E net income remain broadly unchanged," analysts wrote in a Tuesday note. "We believe Aramco is well positioned for production ramp post conflict resolution. To get from 10mb/d to 12mb/d, it contractually has 90 days, but it usually takes about 3 weeks. It can sustain 12mb/d production for up to 12 months without additional investments."The 2026 EPS estimate was upwardly revised to 2.13 Saudi riyals from 2.07 riyals, while the projection for 2028 was nudged higher to 2.14 riyals from 2.13 riyals.The buy rating on the stock and price objective of 34.50 riyals were both maintained.

Update: Market Chatter: Saudi Crude Oil Shipments to China Said to Fall in June

(Updates to add Aramco's statement)Saudi Arabian crude oil loading in June for export to China is expected to fall sharply month over month to between 13 million and 14 million barrels from 20 million barrels for May.Bloomberg News reported Monday, citing traders informed by the producer, that the average crude oil shipped to China, before the Iran war, stood at 40 million to 50 million barrels a month.Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi 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.)

Market Chatter: Saudi Crude Oil Shipments to China Said to Fall Sharply in June

Saudi Arabian crude oil loading in June for export to China is expected to fall sharply month over month to between 13 million and 14 million barrels from 20 million barrels for May.Bloomberg News reported Monday, citing traders informed by the Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, that the average crude oil shipped to China, before the Iran war, stood at 40 million to 50 million barrels a month.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.)