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Saudi Aramco is planning on selling shares worth more than $10 billion dollars, with sales potentially transferred to the PIF to finance domestic projects.
World soccer governing body FIFA has signed a partnership with oil and gas conglomerate Saudi Aramco that will run through to the end of 2027.
Saudi Aramco had initially proposed to ramp up its oil production to 13 million barrels per day following an announcement in 2021.
The LNG investment marks another step towards Saudi Arabia's economic expansion beyond oil production.
The drop in profits reportedly reflects "the impact of lower crude oil prices and weakening refining and chemicals margins" in the aftermath of Russia's invasion in Ukraine, which impacted fuel prices.
Saudi Aramco's head of investor relations Fergus MacLeod was imprisoned in India over the summer for carrying a satellite phone.
Aramco's net income of $39.5 billion was up from $21.7 billion compared with the same period in 2021, "primarily driven by higher crude oil prices and volumes sold, and improved downstream margins," it said in a press release.
Saudi Arabia said Sunday it will transfer 4 percent of the stock of its 'crown jewel' Aramco, a state-run oil giant, to the Kingdom's sovereign wealth fund.
Saudi Aramco that company data had been leaked from one its contractors, but said it had 'no impact' on the oil giant's operations
The oil firm did not say which of its contractors found itself affected by the leak, nor whether that contractor had been hacked or if the information leaked out another way.