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Saudi Aramco Completes $69 Billion SABIC Deal
2020-06-17 15:10:00| OGI
Saudi Aramco has completed its purchase of a 70% stake in petrochemicals company SABIC for $69.1 billion and extended the payment period by three years to 2028, providing a cushion against weak oil prices.
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Saudi Aramco Closes $10 Billion Loan
2020-05-12 20:30:00| OGI
Saudi Aramco officially requested a one-year term loan to be used for general corporate purposes, but bankers expect at least some of it to be used to back the borrower's acquisition of a 70% stake in SABIC.
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Saudi Aramco Launches Largest Shale Gas Development Outside US
2020-02-25 00:30:23| OGI
Saudi Arabia fought a price war aimed at putting the U.S. shale industry out of business just six years ago, which ultimately failed. Now, the country has adopted the techniques developed in U.S. fields.
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Saudi Aramco Raises IPO To Record $29.4 Billion
2020-01-13 14:15:45| OGI
Saudi Aramco initially raised $25.6 billion, which was itself a record level, in its December IPO by selling 3 billion shares at 32 riyals (US$8.53) a share.
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Saudi Aramco Hits Crown Prince's $2 Trillion Valuation Goal
2019-12-12 20:05:00| OGI
Aramco's IPO is the centerpiece of the Saudi crown prince's vision for diversifying the kingdom away from its oil dependence by using the $25.6 billion raised to develop other industries.
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