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Saudi Aramco said that international investors had snatched up the majority of shares sold in its latest offering, which was expected to raise $11.2 billion.
Saudi Arabia is set to raise more than $11.2 billion after pricing its offering of Aramco stock toward the lower end of the targeted range.
Saudi Arabia adds four banks for Aramco's $13B share offering. Investors can order through Thursday, with trading starting next Sunday on the Riyadh Exchange,
Oil giant Aramco reported a 24.7 percent decline in profits in 2023 compared to the previous year, as a result of lower oil prices and production cuts.
A new report by a think tank found that Saudi oil giant Aramco is spending around $1.3 billion on the global sports industry.
The letters to Aramco expressed concerns over Aramco's business activities which are adversely impacting human rights in the context of climate change.
With Saudi Arabia and China ties growing on all levels, Saudi Aramco has confirmed the completion of a 10% stake in China's Rongsheng Peterochemical.
The expansion will see the addition of a new platform to increase the oil and gas output at the facility to 800,000 barrels of oil per day.
Saudi Arabia has added billions to the pockets of its sovereign wealth fund by moving four percent of shares from the country's oil giant Aramco.
Saudi Aramco's profitable results in 2022 were predominantly due to "the impact of higher crude oil prices and volumes sold, and stronger refining margins," according to the energy giant.