Saudi Arabia raised the local price for Octane 95 to 2.10 riyals from 2.02 riyals last quarter and Octane 91 to 1.44 riyals from 1.37 riyals per litre, state oil firm Saudi Aramco said on Saturday. The change goes into effect on Sunday (April 14), the company said in a statement,
Saudi Aramco is set to raise $12 billion with its first international bond issue after receiving more than $100 billion in orders, a record breaking vote of market confidence for the oil giant. State-owned Aramco›s bond issue, split into maturities ranging from three to 30 years, is seen as a gauge of potential investor interest in the Saudi company›s eventual initial public offering.
'The attack was launched from the north and was unquestionably sponsored by Iran,' Al-Malki told journalists
According to a statement by the company, the net income for the Q3 of 2020 was 44.21 billion Saudi riyals ($11.79 billion). In 2019, the company recorded a net income of $21.3 billion in the third quarter.
Upon closing, Aramco will receive upfront proceeds of around US$12.4 billion, further strengthening its balance sheet through one of the largest energy infrastructure deals globally.
Saudi's oil production from its Khurais plant is now at more than 1.3 million barrels per day, while current production from its Abqaiq plant is at about 3 million bpd, the source said.
Institutional investors have put in 144.1 billion riyals ($38.4 billion) worth of bids for Saudi Aramco’s planned initial public offering (IPO), equivalent to more than twice the number of shares on sale, financial advisers for the IPO said on Monday.
The acquisition of the SABIC stake is consistent with Aramco’s long-term Downstream strategy to grow its integrated refining and petrochemicals capacity and create value from integration across the hydrocarbon chain.
State-owned Saudi Aramco bought 2.1 billion shares of Saudi Basic Industries (SABIC) on the stock market as it completed its deal agreed last year to buy 70 per cent of the petrochemical giant, according to sources and market data.