Aramco, a leading integrated energy and chemicals company, has solidified a significant deal in the energy sector by acquiring a strategic minority stake worth $500 million in MidOcean Energy. MidOcean Energy, managed by EIG, a distinguished institutional investor in global energy and infrastructure sectors, specializes in liquefied natural gas (LNG) ventures. Strategic Move: Aramco’s $500 […]
Aramco and TotalEnergies have officially awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion Amiral petrochemical complex, heralding the commencement of construction work on this large-scale project in Saudi Arabia. This petrochemical complex, integrated with the SATORP refinery in Jubail, is set to be the largest mixed-load steam cracker in the Gulf, with […]
S-OIL, a majority-owned company of Saudi Aramco, has started construction on the Shaheen petrochemical project in Ulsan, South Korea, which involves an investment of $7 billion. The groundbreaking ceremony of the Shaheen petrochemical complex was held under the presence of South Korean President Yoon and Saudi Aramco President and CEO Amin Nasser. Amin H. Nasser […]
Saudi Aramco, through its affiliate S-OIL, will construct a new petrochemical cracker in South Korea, the Shaheen petrochemical project, in an effort to maximize its crude to chemicals value chain. The $7 billion-worth Shaheen project in South Korea is expected to change crude oil into petrochemical feedstock and almost double S-OIL’s chemical yield to 25% […]
EIG said that a consortium of investors led by it has closed its previously announced $12.4 billion acquisition of a 49% stake in Aramco Oil Pipelines Company from Saudi Aramco. The deal was announced in April 2021. Aramco Oil Pipelines Company is a newly created entity for holding the crude oil pipeline assets of Saudi […]