RIYADH/ Cambridge: The Abu Dhabi National Oil Company (Adnoc), Saudi Aramco Technologies Company (AramcoTech) and TWI Ltd (TWI) officially opened the Non-metallic Innovation
"The security of the UAE and Saudi Arabia is inseparable. Any threat to the Kingdom of Saudi Arabia is seen as a threat to the stability and security of the UA."
'The attack was launched from the north and was unquestionably sponsored by Iran,' Al-Malki told journalists
Saudi Aramco’s Chief Executive expects rising oil demand in 2021, he said on Sunday, citing Chinese demand approaching pre-pandemic levels while vaccines help other economies to open up.
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 Aramco’s CFO Khalid al-Dabbagh said on Monday the company was “very comfortable” with $30 a barrel oil prices and that it can meet its dividends commitments and shareholders expectations even with current low oil price.
The Saudi central bank said last week it had prepared a 50-billion riyal ($13.32 billion) package to help banks and small and medium-sized enterprises cope with the economic impact of the coronavirus.
Saudi Aramco is worth up to $1.7 trillion at the IPO price range set by the oil giant on Sunday, below the $2 trillion targeted by Saudi’s crown prince but still vying for the title of the world’s biggest IPO.