Saudi Aramco posts drop in profits but sees oil and gas demand recovery in Asia and elsewhere
The Saudi Arabian Oil Company, Saudi Aramco, reported a 44 percent drop in annual profits, though still earned a net $49 billion in 2020 as it posted record oil and natural gas output even as revenues were affected by lower crude oil prices and sales tumbled because of the economic slump caused by Covid-19.
Qatar and Saudi Arabia speak up for LNG and oil prospects of Arab Gulf region while embracing renewables
Qatar and Saudi Arabia have spoken up for the LNG and oil export prospects of the Arab Gulf region and with both countries also embracing technologies for carbon-capture and renewable energies.
Saudi Aramco posts earnings with 20 percent profit fall and advance in natural gas plans
Saudi Aramco, the largest oil producing company, has just reported its annual earnings with net profits dropping by around 20 percent to $88.2 billion compared with $111.1Bln for the previous year as it outlined plans to spend billions on unconventional natural gas development after also planning to enter the LNG sector.
Saudi Aramco and US utility Sempra firm up accord for Saudi investment in Texas LNG
Sempra Energy, the California-based utility and liquefied natural export plant developer, said it signed an accord for Saudi Aramco, the oil company of Saudi Arabia, to take a stake in the proposed Port Arthur LNG project in Texas.
