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The Latest Breaking News from Amin Nasser

Oil Price Today (June 24): Crude oil near 4-month low as more tankers pass through Hormuz. What are experts saying?

Oil prices extended their decline on Wednesday, hovering near the four-month lows touched in the previous session, as signs emerged that more oil tankers stranded in the Gulf since the start of the Iran conflict are preparing to move through the Strait of Hormuz.

The Economic Times

Oil Price Today (June 23): Crude oil near $78 per barrel as investors track flows through Hormuz. What’s next?

Brent crude futures rose 24 cents, or 0.38%, to $78.15 a barrel, while U.S. West Texas Intermediate gained 33 cents, or 0.46%, to $74.19 a barrel as of 0026 GMT.

The Economic Times

Oil Price Today (June 22): Crude oil rises above $80 as Iran shuts Strait of Hormuz again. What are experts saying?

Brent crude futures rose 54 cents, or 0.67%, to $81.11 a barrel, after briefly touching $82.30 at the start of trading. U.S. West Texas Intermediate (WTI) crude futures gained $2.02, or 2.64%, to $78.62 a barrel ahead of the contract's expiry later on Monday.

The Economic Times

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Oil Price Today (June 19): Crude oil falls, heads for 9% weekly loss as shipping in Hormuz Strait begins. What are experts saying?

Brent crude slipped toward $79 a barrel and is down more than 9% for the week. West Texas Intermediate for August was trading near $76 a barrel. This comes after tankers carrying previously stranded cargoes started moving through the waterway on Thursday, while Kuwait said it would begin increasing production.

The Economic Times

Oil Price Today (June 17): Crude oil dips below $80, near 3-month low ahead of US-Iran agreement. Will liquid gold fall more?

The interim agreement, expected to be signed on Friday, would grant Tehran significant economic incentives, including the immediate ability to resume oil sales.

The Economic Times

Saudi Aramco profits jump despite conflict in Middle East

Saudi Arabia’s state oil company’s profits up 26% to £26.9bn in first three months of year

The Guardian - UK

Saudi Aramco CEO issues stark warning: Iran war could bring ‘catastrophic’ shock to global oil

The world’s biggest oil exporter says reopening Middle East energy routes is critical as Trump claims the conflict may soon end.

Fortune

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Aramco warns of oil market ‘catastrophe’ unless strait of Hormuz reopens soon

Saudi Arabian state oil firm calls crisis by far the biggest but company can reroute 70% of exports via its east-west pipeline

The Guardian - UK

Trump says Iran war is 'very complete, pretty much' sparking global stock rally

But also, "we’re going to go further."

Fortune

Saudi Aramco Warns Iran War Could Have ‘Catastrophic Consequences’ for Global Oil Markets

Saudi Arabia’s state oil giant, Saudi Aramco, has warned that the escalating conflict involving Iran could trigger severe disruptions in global oil markets, particularly if shipping through the critical Strait of Hormuz continues to be affected.

Whats Hot

FTSE 100 closes higher despite sluggish economic growth

The tepid progress for the economy recently could prompt the Office for Budget Responsibility to downgrade its economic assessment.

Evening Standard

Inside the Billionaires’ Club: The 8 Richest CEOs in the World

From tech visionaries to energy moguls, these eight CEOs have redefined what it means to be wealthy in the modern age.

GOBankingRates

Saudi Aramco CEO Calls Energy Transition Strategy A Failure

Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure on Monday.

International Business Times

World’s top fossil-fuel bosses deride efforts to move away from oil and gas

Executives at Texas summit claim clean-energy transition is failing and say world should ‘abandon the fantasy’ of fossil-fuel phaseout

The Guardian - US

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Fortune

The world’s third-biggest company just saw its profits plummet 38%—but it still paid shareholders $19.5 billion in dividends

The company said boosting dividends was part of a “sustainable and progressive” approach to investor payouts.

Zenger

BlackRock Called Out For ‘ESG Facade’ After Naming Saudi Aramco Chief To Board

The move raised several eyebrows across corporate and social media circles.

Fortune

Saudi Arabia has the most profitable company in the history of the world, and $3.2 trillion to invest by 2030. Who will say no to that tidal wave of cash?

With its vast supply of oil money, the kingdom's flashy play for golf dominance is just the tip of the iceberg.

Asharq Al-Awsat

Aramco, Partners to Construct Major Refinery, Petrochemical Complex in China

Aramco and joint venture partners NORINCO Group and Panjin Xincheng Industrial Group plan to start constructing a major integrated refinery and petrochemical complex in northeast China. Huajin Aramco Petrochemical Company (HAPCO) is a joint venture between Aramco, NORINCO Group, and Panjin Xincheng Industrial Group. It is developing a complex that…

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The Independent UK

Saudi state-owned oil giant sees record profit of $161bn

It comes as energy prices spiked following Russia’s full-scale invasion of Ukraine in February 2022

The Guardian - UK

Saudi Aramco’s $161bn profit is largest recorded by an oil and gas firm

Amnesty International hits out at ‘shocking’ annual figure reaped through sale of fossil fuel

WEKU

Four takeaways as oil giant Saudi Aramco reports a huge $161 billion profit

The world's biggest oil company has announced it made $161 billion in profits in 2022, a whopping figure for the corporation and its main shareholder, the Saudi government.

Asharq Al-Awsat

Aramco Announces Strategic Partnership with Zoom, Increase in Funding for Wa’ed Ventures

Saudi Aramco announced on Monday a strategic partnership with Zoom and an increase in funding for Wa’ed Ventures. The announcements were made at the second edition of LEAP, a major international technology conference held annually in Saudi Arabia. The strategic partnership with Aramco aims to build Zoom’s first global data…

Asharq Al-Awsat

Aramco to Pump $7 Bn to Develop World's Largest Petrochemical Crackers in S. Korea

Saudi Aramco announced it was planning to invest $7 billion in South Korea to develop one of the world's largest refinery-integrated petrochemical steam crackers, which will be established in Ulsan city. The "Shaheen" project is Aramco's most significant investment in South Korea to develop one of the largest steam crackers…

The Independent UK

Saudi Arabia has 'green vision' at COP27, critics unmoved

Saudi Arabia’s vision of an environmentally friendly future is on display just a short drive from the venue of the U.N. climate summit being held in Egypt

Asharq Al-Awsat

Saudi Aramco Posts 39% Jump in Third-quarter Profits

Saudi Aramco on Tuesday posted a 39-percent jump in third-quarter profits year on year, the latest financial results boosted by higher oil prices and volumes sold. The energy giant's net income totaled $42.4 billion -- up from $30.4 billion during the same period last year -- and was "primarily driven…

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