The Saudi Arabian Oil Company
(Saudi Aramco) is set to acquire Shell Saudi Arabia Refining Limited's (Shell) 50 per cent share of the Sasref joint venture in Jubail Industrial City, in Saudi Arabia, for $631 million.
With 18 per cent of the world's proven petroleum reserves, the state-owned Saudi Arabian Oil Company
(Saudi Aramco) continues to expand fields and production and discover new fields.
On the joint venture between Petronas and Saudi Arabian Oil Company
(Saudi Aramco), Saifuddin said the two companies wanted cooperation between them to be enhanced.
He highlighted the numerous and ongoing joint projects underway between Bahrain and Saudi Arabia, notably the development of the pipeline between the Bahrain Petroleum Company (Bapco)'s Refinery and the Saudi Arabian Oil Company
A Saudi decision to indefinitely delay an initial public offering (IPO) of five percent of the Saudi Arabian Oil Company
or Aramco, the Saudi state-owned oil company, has further dented investor confidence and fuelled debate about Crown Prince Mohammed bin Salman's ability to push economic reform.
Kuala Lumpur, Sha'ban 29, 1439, May 15, 2018, SPA -- Petroliam Nasional Berhad (PETRONAS), the national oil company of Malaysia and Saudi Arabian Oil Company
(Saudi Aramco); today launched the corporate identity for their joint ventures in the Pengerang Integrated Complex (PIC) located in Pengerang, Johor, Malaysia, namely Pengerang Refining Company Sdn Bhd (PRefChem Refining) *1 and Pengerang Petrochemical Company Sdn Bhd (PRefChem Petrochemical)*2, collectively known as "PRefChem".
The MoU was signed with the Economic Cities Authority, the Technical and Vocational Training Corporation, the Saudi Aviation Club, the Saudi Arabian Oil Company
(Saudi Aramco), Saudi Arabian Airlines (Saudia), the Ministry of Education, and the Saudi Technology Development and Investment Company (TAQNIA).
Aramco Services Company is a US-based subsidiary of the Saudi Arabian Oil Company
(Saudi Aramco), and supports a wide range of activities.
Other shareholders are Saudi Arabian Oil Company
(Aramco) at 15 percent, Kuwait Metal Pipe Industries Company at 15 percent, UAE's International Petroleum Investment Company at 15 percent and Qatar Petroleum at 5 percent.
The kingdom is expected to fall further behind Iran and Iraq in November as its state oil giant - the Saudi Arabian Oil Company
, or Aramco as it is internationally known, is scheduled to make the deepest cuts in supplies to customers in its history in November, as officially announced by Riyadh.
Government-owned Saudi Arabian Oil Company
(Saudi Aramco) has co-signed the MoU alongside the Saudi Arabian National Industrial Cluster Development Program (NICDP).
The author is part of the Loss Prevention executive management staff of the Saudi Arabian Oil Company
, with previous work in fire protection engineering, risk analysis, and safety for several major U.S.