Saudi Aramco

In a bid to bolster the artificial intelligence industry in Saudi Arabia, Saudi Aramco’s venture arm, Wa’ed Ventures, has invested $15 million in South Korean AI chipmaker Rebellions Inc. What Happened: Rebellions is collaborating with Samsung Electronics Co. to develop its proprietary...

Stake, a Dubai-based digital platform for real estate investment, has successfully raised $14 million in its Series A funding round. The investment was led by Saudi Aramco‘s venture capital arm and Abu Dhabi’s sovereign wealth fund, Mubadala Investment Co. Why It Matters: The Series A...

In a significant move, Saudi Aramco has announced an $11.2 billion stock sale, marking the largest global offering in three years. The proceeds will be channeled into Saudi Arabia’s ambitious economic overhaul. What Happened: The Saudi government is set to sell nearly 1.55 billion shares at...

In a strategic move to attract global investors, Saudi Aramco has launched a worldwide roadshow to promote its $12 billion share sale, marking a departure from its previous IPO approach. What Happened: Saudi Aramco is actively engaging with international investors through events in London and the...

Saudi Arabia has confirmed that the NEOM megaprojects will proceed as initially planned, despite previous reports suggesting a potential scaling back of the futuristic desert development. What Happened: The Kingdom’s economy minister, Faisal Al Ibrahim, dismissed earlier reports of a...

Saudi Aramco CEO Amin Nasser has cautioned that the global energy transition is faltering and urged policymakers to adopt a more realistic approach to the future of oil and gas. What Happened: Nasser, speaking at the CERAWeek by S&P Global energy conference in Houston, Texas, asserted that the...

The Saudi Arabian Public Investment Fund (PIF) is contemplating an increase in bond sales and IPOs to finance the ambitious economic transformation project spearheaded by Crown Prince Mohammed bin Salman. What Happened: The PIF is considering a surge in debt sales or bank loans to finance the...

CNBC’s Jim Cramer has identified three companies that could potentially join the trillion-dollar club, in the wake of Nvidia Corp‘s (NASDAQ:NVDA) rapid ascension. What Happened: On Monday, Cramer named Eli Lilly and Co (NYSE:LLY), Berkshire Hathaway Inc (NYSE:BRK) (NYSE:BRK), and Tesla...

The ambitious development projects in Saudi Arabia are straining the country’s finances, leading to unprecedented borrowing and potential stock sales in its crown jewel, Saudi Aramco. What Happened: Saudi Arabia has been embarking on a series of high-profile projects, including a $500...

In a development that could have wider implications for the oil market, Saudi Arabia's state-owned Aramco has suspended its plan to boost its maximum crude production capacity. The decision comes against the backdrop of a shifting global landscape, with increasing concerns about the...

In a move that has sent shockwaves through the oil market, Saudi Arabia has drastically reduced oil prices, leading to a significant increase in short positions in both Brent crude and West Texas Intermediate crude. What Happened: Short positions in Brent crude and West Texas Intermediate...

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Friday reiterated his prediction that his EV company’s long-term value could exceed both tech giant Apple Inc (NASDAQ:AAPL) and Saudi Aramco put together. What Happened: “I stand by my prediction that, if Tesla executes extremely well over the...

Saudi Arabia's plans to list more shares of Aramco, the world's most valuable oil company, have resurfaced.  The kingdom is reportedly considering selling up to $50 billion worth of shares, which could be the largest offering in capital market history.  Saudi Arabia has...

As supply constraints and increasing demand tighten the global crude market, Saudi Arabia has raised almost all oil prices for September to Asia and Europe. What Happened: Saudi Aramco has increased the price of Arab Light crude for sale to Asia by 30 cents per barrel above the...