Forbes Middle East’s Post

UAE Oil Giant Plans European Trading Boost in Expansion Push Adnoc seeking term contracts for energy; LNG to be big focus It is building out trading unit after abandoning Gunvor deal The UAE’s biggest oil producer is pushing to build its fledgling trading operations into a multibillion-dollar business this decade by bolstering its presence in Europe and Africa, and expanding in other forms of energy. In a bid to catch up with long-established rivals, Abu Dhabi National Oil Co. wants to take advantage of the hole left by Europe’s pivot from Russian fuels, according to people with knowledge of the company’s plans. It is pursuing term contracts for crude, refined fuels and liquefied natural gas and supplying those volumes to the region, they said, asking not to be named because the plans aren’t public. #business #finance #financialservices

Saudi Aramco's Second Most Profitable Year with $121.3B Net Income #SaudiAramco has announced a robust net income of $121.3 billion for 2023, demonstrating resilience in economic challenges and a commitment to shareholder value with a 30% dividend increase. Despite a slight drop from the previous year, #Aramco’s strategic investments in diverse energy sources and global expansion underscore its vision for the future. Discover more insights on our strategic performance and future plans in the full report on Saudi Business News, link in bio! #SaudiBusiness #SaudiNews #Vision2030 #SaudiArabia #AminNasser #Energy #OilAndGas #GlobalMarkets #ShareholderValue #Investment #EconomicResilience

#Saudi Arabia’s state-owned energy giant aramco announced today that it was asked to maintain its maximum #oil sustainable capacity (MSC) at 12m bbl/day. The Saudi government had previously mandated Saudi #Aramco to boost #production capacity to 13m bbl/day by 2027. #Saudiarabia is the de facto leader of oil cartel #OPEC, which has reduced production in recent years to prevent oil #prices from crashing amid an overall weakness in #demand. Read more here: https://lnkd.in/dveePv8G

My Top 3 Trends that will determine the direction of oil markets in 2024 are #Geopolitical Tensions and #Supply Disruptions, Adoption Rate of #Renewable Energy and Global Economic Growth. Share yours by joining in todays #GEOF session with the top 2 experts in #Oil #Markets today. Vitol Crystol Energy Columbia University

Saudi Aramco's Earnings Decline Amidst Economic Fluctuations #SaudiAramco has faced a 25% reduction in profits, down to $121 billion in 2023, in the wake of oil market volatility. However, the company plans to increase shareholder dividends to $98 billion. Despite lower oil prices and strategic production cuts, Aramco remains a leading global energy supplier and looks to invest in renewable energy and capitalize on oil demand in China. CEO Amin Nasser expresses confidence in the company's financial resilience and future market prospects. For in-depth insights, visit Saudi Business News. Link in bio. #SaudiBusiness #SaudiNews #Vision2030 #SaudiArabia #Energy #OilMarket #RenewableEnergy #Investment #AminNasser #China

Again to Aramco’s VP Energy and Economic Insight, how can we ensure investments in sustainable energy are prioritized in the global south? Precisely when estimaes essentially show an additional $25 trillion dollars are needed to realize this transition. During SCMF 2024 in Riyadh yesterday. Full panel that included more speakers (and full day) through this link: https://lnkd.in/geAQhjDJ Saudi Capital Market Forum Musaab Almulla aramco #SCMF24 #Aramco #Riyadh #sustainableenergy #investments

LNG Headlines: Nakilat Orders $1B Worth of LNG and LPG Carriers 🌟📝 📝 Highlights: Qatar's LNG transport operator, Nakilat, has reached a deal with Hyundai Heavy Industries for two standard-sized LNG carriers and four very large... 🔗 Read more: https://lnkd.in/gT8TkSnM 🌐 Visit: https://lnkd.in/grCFA2SN 🔍 Join the LNG Community: https://lnkd.in/gW8ZbcP2 #Comment and share your views. 🗨️ #lng #news #newsletter

Aramco Holds Steady at 12 Million Barrels: Saudi Arabia Puts Brakes on Production Expansion Dhahran, Saudi Arabia – In a surprise move, Saudi Aramco, the world’s largest oil company, announced today that it will halt planned production increases and maintain its maximum sustainable capacity (MSC) at 12 million barrels per day (MMBD). This news comes following a directive from the Saudi Ministry of Energy, potentially impacting global oil markets and Aramco’s own investment plans. Read More: https://lnkd.in/dD_w6T4w #AramcoNews #OilMarketUpdate #SaudiEnergyPolicy #GlobalOilImpact #EnergyMarketInsights #SaudiAramco #ProductionStability #OilMarketAnalysis

The #uae’s biggest #oil producer #adnoc is pushing to build its fledgling trading operations into a multibillion-dollar business this decade by bolstering its presence in Europe and Africa, and expanding in other forms of energy. In a bid to catch up with long-established rivals, Abu Dhabi National Oil Co. wants to take advantage of the hole left by Europe’s pivot from Russian fuels, while building its trading business for crude, refined fuels and liquefied natural gas.