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Asia Markets

Tadawul Shares Start Week Higher; Saudi Arabia's March Industrial Production Declines

The Tadawul All Share Index started the week 0.76% higher as investors assessed Saudi Arabia's latest economic data and earnings reports.Official preliminary data from Saudi Arabia's General Authority for Statistics showed that the industrial production index dropped 14.1% year over year in March. Month over month, industrial production fell 22.3%."The index of oil activities decreased by 20.0% in March 2026 compared to the same month of the previous year, while the index of non-oil activities remained stable at a level close to its performance in the same period of the previous year. The results also indicated that the index of oil activities decreased by 30.8% while the index of non-oil activities increased by 1.4% compared to February 2026," the statistics agency said in its report.Speaking of economic releases, the local calendar will see the release of the kingdom's inflation and wholesale prices data for April on Thursday.In other news, investors are focusing on the latest updates regarding the operations of the Strait of Hormuz and the Middle Eastern conflict. Reuters reported that the US is waiting for Iran's response regarding its proposal to end the war.Back at home, a slew of earnings dominated headlines as several companies published their first-quarter financial statements. The bourse's biggest company, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, ticked up 0.81% as it posted a 25.553% increase in net profit and a 6.766% climb in revenue.Saudi Aramco Base Oil Co. (SASE:2223), d/b/a Luberef, also posted higher attributable profit and revenue in the March quarter. Acwa Power (SASE:2082), however, reported a decline in its profit for the three months ended March 31.Acwa Power closed 1.65% higher, while Luberef shares closed 0.17% lower.

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Equities

Saudi Aramco Posts Higher Q1 Profit, Revenue

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, said Sunday that net profit and revenue for the first quarter of 2026 rose year over year.Net profit attributable to shareholders of the issuer for the three months ended March 31 was 120.13 billion Saudi riyals, compared with 95.68 billion riyals earlier. EPS moved to 0.5 riyal from 0.4 riyal.The Tadawul-listed oil giant's revenue was 433.1 billion riyals, compared with 405.65 billion riyals a year ago.Meanwhile, the board declared a base dividend of 0.3393 riyal per share for the period, payable June 9 to shareholders on record June 1. It paid 0.3278 riyal per share a year ago.

SASE:2222
Equities

Market Chatter: Aramco Said Among Companies Resuming Oil Shipments Via Hormuz

Saudi Arabian Oil Co.'s (SASE:2222), d/b/a Saudi Aramco, is reportedly among the companies that were able to move oil cargoes through the Strait of Hormuz since its blockage began in March.Bloomberg News reported Friday, citing people familiar with the situation, that shipments involving Aramco Trading and Abu Dhabi National Oil Co, or Adnoc, are mostly taking place with transponders turned off to avoid vessel detection.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.)

SASE:2222
Asia Markets

Saudi Shares Close Wednesday Lower; US-Iran Reportedly Set to Sign Peace Deal

The Tadawul All Share Index closed Wednesday 0.52% in the red as investors tuned in to the latest updates regarding the peace deal between the US and Iran.A Pakistani source reportedly said that the US and Iran are set to finalize a one-page memorandum to conclude the Middle Eastern conflict. The 14-point deal reportedly included the unfreezing of Iranian funds, sanctions lifts, and others.In other news, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, lowered North West Europe, Mediterranean, and Asian main crude oil prices in June. Price tags for the North American region, meanwhile, were unchanged. Aramco shares closed 2.81% lower."Oil prices are under renewed pressure as the ceasefire between the US and Iran appears to be holding despite recent escalation in the Persian Gulf," ING said in a note. "Saudi Arabia cut its official selling price for its flagship Arab Light to Asia for June. The OSP was cut from a record US$19.50/bbl premium over the benchmark in May to US$15.50/bbl. This is still the second-highest OSP on record. Crucially, this price assumes loadings from Ras Tanura, which sits in the Persian Gulf. This is clearly not happening. Instead, crude is being loaded at Yanbu on the Red Sea coast. As a result, final prices may be higher to reflect the logistical costs of shipping from the Red Sea."Back at home, earnings from insurance companies largely dominated headlines in Saudi Arabia. Gulf Insurance Group (SASE:8250), The Co. For Cooperative Insurance (SASE:8010), d/b/a Tawuniya, posted higher results for the March quarter. However, Malath Cooperative Insurance (SASE:8020) logged a decline in attributable profit and insurance revenue for the period.Gulf Insurance, Tawuniya, and Malath Cooperative all closed higher at 9.08%, 6.20%, and 1.35%, respectively.Meanwhile, Saudi Tadawul Group (SASE:1111) ticked up 2.25% after its board recommended to repurchase up to 1,220,000 shares for its employee stock incentive plan.

^TASISASE:1111SASE:2222SASE:8010SASE:8020SASE:8250
Equities

Solutions by stc to Deploy Supercomputer at Saudi Aramco's Upstream Operations

Arabian Internet and Communications Services (SASE:7202), d/b/a solutions by stc will deploy a supercomputer at the upstream operations of Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.The supercomputer will enhance the oil giant's upstream computing capabilities in hydrocarbon discovery and recovery by enabling advanced seismic data processing and large-scale reservoir modeling and simulation, according to a Wednesday release.The Saudi Arabia-based information and communication technology services company is expected to deliver the $372.5 million project by early 2027.

SASE:2222SASE:7202
Equities

Saudi Aramco Updates Main Crude Oil Prices in June

Saudi Arabian Oil Co. (SASE:2222), d/b/a Aramco, said Tuesday it will lower certain main crude oil prices in June, compared with May.According to a price list from the Saudi state-owned oil giant, North West Europe and Mediterranean price tags were cut by $2.Meanwhile, prices of its crude grades for buyers in Asia were reduced by $4, while those for North American buyers remained unchanged.

SASE:2222
Equities

Saudi Aramco Keeps LPG Prices Steady in May

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, kept its official selling prices for liquefied petroleum gas unchanged for May, compared with April.The state oil giant maintained propane's contract price at $750 per metric tonne and butane at $800 per metric tonne, according to a Thursday statement.

SASE:2222
Equities

RBC Tweaks Model for Saudi Aramco Ahead of Q1 Results; Sector Perform Rating Reiterated

RBC Capital Markets updated its model for Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, ahead of the Saudi state-run oil giant's first-quarter results in May."Our production estimates in the upstream move lower as we incorporate the latest market data. Our forecasts assume continued disruptions for April and May, with a return closer to normal level by 3Q. Seasonally lower costs qoq in the upstream will benefit earnings in 1Q26. Downstream earnings should feel the benefit of higher refining margins in the quarter," analysts said Tuesday, noting they are also accounting for the research firm's higher commodity price forecast.As such, RBC boosted its adjusted group net income for the first quarter of 2026 to $32 billion from $30.2 billion, and raised its EPS forecasts for full-year 2027 and 2028.The stock is still rated at sector perform, with an unchanged price target of 34 Saudi riyals.

SASE:2222
Equities

Orlen Says Saudi Aramco Oil Deliveries On Track Amid Middle East Conflict

Orlen (PKN.WA) said oil deliveries from Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, remain on schedule and in line with contracted volumes despite the ongoing Middle East conflict, Reuters reported Tuesday.The Polish state-owned energy group, which is receiving supplies from Aramco through the Red Sea port ​of Yanbu, told the news outlet that it also does not expect any changes in May.In addition, Orlen said it is prepared to meet existing contracts ​and secure supplies ahead of the seasonal peak demand period from May to September.

$PKN.WASASE:2222
Research

Morgan Stanley Raises Saudi Aramco PT, Keeps at Equalweight

Morgan Stanley on Monday increased the price target for oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to 28.40 Saudi riyals from 25.20 riyals, while retaining its equal weight 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)

SASE:2222
Equities

Market Chatter: Saudi Aramco Said to Pause LPG Shipments Until May After Facility Damage

Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, will continue suspending liquefied petroleum gas shipments from its Juaymah facility in Saudi Arabia through May, Bloomberg News wrote Tuesday, citing sources.People familiar with the matter told the news outlet that necessary repairs at Juaymah have not been made yet. The facility's support structure collapsed before the Middle East war started in February.The Saudi state-run oil giant 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.)

SASE:2222
Research

UBS Lifts Saudi Aramco PT, Affirms Neutral Rating

UBS on Friday increased the price target for oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to 28 Saudi riyals from 27 riyals, while confirming its neutral 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)

SASE:2222
Equities

BofA: Saudi Aramco Poised to See Robust Q1 Results Amid Higher Oil Prices

BofA Global Research expects Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to report robust first-quarter 2026 results, potentially logging its highest profits since the third quarter of 2023."We forecast Aramco's 1Q26 net income (including minority interests) at US$29.7bn, up 19% q/q. The increase is supported by: 1) strong Brent pricing atUS$78/bbl in 1Q26, up 24% q/q offsetting lower crude volumes q/q, which are down 7%, 2) robust downstream with refining margins up 10-20% q/q(based on IOC peers) and the chemical basket price up 10% q/q," analysts wrote Thursday.In terms of revenue, the state-owned oil and gas giant is projected to see a 2% quarterly increase to $113.1 billion. The research firm also noted that Aramco is well placed to ramp up its production once the conflict in the Middle East is resolved.As such, the 2026 and 2027 EPS forecasts were nudged up to 2.07 Saudi riyals and 2.11 riyals, respectively, from 2.06 riyals and 2.10 riyals.The buy rating on the stock was reaffirmed, with a price objective of 34.50 riyals.

SASE:2222
Research

Citi Raises Saudi Aramco PT, Maintains Neutral Rating

Citi on Thursday increased the price target for oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to 27 Saudi riyals from 25.50 riyals, while keeping its neutral 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)

SASE:2222
Equities

Saudi Aramco, Sulzer Sign Long-term Procurement Deal for Pumps, Aftermarket Services

Sulzer (SUN.SW) signed a long-term corporate procurement agreement with Saudi Arabian Oil (SASE:2222), d/b/a Saudi Aramco, to supply centrifugal pumps, spare parts, and aftermarket services.The Swiss engineering company said Thursday the five-year strategic deal, with an option to extend by three years, will support Aramco's global operations and nationwide pump fleet.

SASE:2222$SUN.SW
Research

Morgan Stanley Raises Saudi Aramco PT, Keeps Equalweight Rating

Morgan Stanley on Tuesday increased the price target for oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to 28.40 Saudi riyals from 25.20 riyals, while maintaining its equal weight 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)

SASE:2222
Equities

Aljazira Capital: Higher Crude Oil Prices to Bolster Saudi Aramco's Q1 Profitability

Aljazira Capital expects Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to see strong topline growth and improved profitability in the first quarter, bolstered by higher crude oil prices.Aramco is anticipated to report a 13.8% year-over-year jump in net income, after minority, to 108.8 billion Saudi riyals, while revenue is seen growing 6% to 455.3 billion riyals, according to a Wednesday note.For full-year 2026, net income and revenue are projected to increase 22.6% and 14.1% on an annual basis, respectively, to 427 billion riyals and 1.908 trillion riyals."We expect higher crude oil prices this year and flexibility to divert exports from east to west coast to reflect positively on Aramco's revenue and earnings in FY26E," the research firm said. "Our estimates assume an average oil price of around USD 86/bbl, about 27%. However, total hydrocarbon output is projected at 12.8 mmboed, including crude oil production of 9.4 mbpd. Our assumptions are based on energy supply routes and production level returning to normalcy by Q3-26, while oil prices will continue to hold certain geopolitical premium throughout the year."

SASE:2222
Asia Markets

Tadawul Shares Close Higher on US-Iran Conflict De-escalation Hopes

Saudi Exchange-traded shares closed Tuesday higher as the potential resumption of the talks between Iran and the US pushed the Tadawul All Share Index to 0.52% in the green.Sources said that the US and Iran are said to resume their discussions in Pakistan on ending the war, Reuters reported. The sources added that the talks in Islamabad might happen by the end of the week."Oil prices fell back below USD100/bbl overnight on the news that US and Iran might resume talks ahead of the end of the two-week ceasefire. Amid the additional US blockade of the Strait of Hormuz and an end to the Russian sanctions' waiver that allowed purchasing of oil from Russian tankers already at sea, the oil market seems optimistic that supply constraints will start to ease in the short term. The waiver that allowed purchasing of Iranian oil is set to expire on 19 April, but its significance is reduced due to the ongoing blockade in the Strait," Danske Bank said in a note.In other news, market watchers await the International Monetary Fund's latest world economic outlook report later in the day.Back at home, Academy of Learning Co. (SASE:9541) shares ticked up 0.58% as its Learning Private Schools Co. subsidiary entered a 30-year lease for an educational complex that will be used for private education services.Meanwhile, Saudi Aramco's (SASE:2222) Aramco Digital unit entered a project that will use industrial artificial intelligence of things group Cumulocity's platform to boost its fleet management operations in Saudi Arabia. Shares of the oil giant closed 0.87% lower.

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Equities

Aramco Digital, Cumulocity to Deploy Artificial Intelligence Technology in Gulf

Saudi Arabian Oil (SASE:2222), d/b/a Saudi Aramco, unit Aramco Digital is collaborating with Cumulocity to jointly deliver industrial artificial intelligence of things technology across the Gulf Cooperation Council.As an initial deployment, Aramco Digital is implementing Cumulocity as the core platform for an advanced fleet management program supporting the Saudi energy giant's operations in Saudi Arabia.

SASE:2222
Asia Markets

Tadawul Shares Close Higher as Saudi Arabia Restores Full Capacity of East-West Pipeline

The Tadawul Share Index closed Monday 0.99% higher as the full restoration of oil pumping capacity at Saudi Arabia's East-West pipeline overshadowed the gloom from the results of the US-Iran talks.The damage from attacks last week led to the loss of 700,000 barrels per day in pumping capacity, but the repairs brought the pipeline back to 7 million barrels per day. "This quick recovery reflects the high operational resilience and crisis management efficiency of Saudi Aramco (SASE:2222) and the Kingdom's energy ecosystem as a whole, thereby enhancing the reliability and continuity of supplies to local and global markets, and supporting the global economy," the Saudi Ministry of Energy said in a statement on X.Meanwhile, oil prices rose with news of the US plans to block the Strait of Hormuz. US President Donald Trump said in a Truth Social post that ships to and from the Strait will be potentially attacked."By announcing an impending blockade of the Strait, President Trump may be signaling that he is not prepared to cut his losses just yet. In pursuing this strategy, President Trump may be calculating that China will become more active in negotiations if it faces a cutoff of Iranian cargoes to its refineries," RBC Capital Markets said in a note. "Also, it may prove to be a far more challenging undertaking to blockade Iran than Venezuela, and we would anticipate Tehran will increase attacks on regional energy facilities, including critical derisking infrastructure, if President Trump backs his threat with action."Back at home and on the corporate front, Edarat Communication and Information Technology (SASE:9557) closed flat as its board proposed to repurchase shares, as well as boost its capital to 75.6 million Saudi riyals via bonus share issues.Looking ahead to the rest of the week, the local economic releases calendar's only entries are the March inflation print and wholesale price figures, both on Wednesday.

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