126 stories mentioning SASE:2222Updated 4d ago
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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.
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.
(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.)
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.)
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.
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.
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.)
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.
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.
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.
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.
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.
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.
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.
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.)
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.
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.
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.
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.
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.
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