The Numbers: Profits that rise and fall with oil prices.Major energy companies have been reporting reduced profits, largely because the price of oil has fallen since last year. In the […]
Saudi Aramco
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Back to news homeIn Surprise, OPEC Plus Announces Cut in Oil Production
Saudi Arabia, Russia and their oil-producing allies announced on Sunday that they would cut production by more than 1.2 million barrels of crude a day, or more than 1 percent […]
Japan’s Terra Drone gets $14M lift from Saudi investors
Terra Drone said today it has raised $14 million in Series C funding from Wa’ed Ventures, the venture capital arm of Saudi Aramco, marking the VC firm’s first investment in […]
Ostracized by the West, Russia Finds a Partner in Saudi Arabia
As Russia massed troops on its border with Ukraine and invaded the country at the start of the year, Saudi Arabia’s Kingdom Holding Company quietly invested more than $600 million […]
Saudi Aramco’s Profit Jumps 90 Percent on High Oil Prices
Saudi Aramco, the giant oil producer, said on Sunday that its second-quarter profit jumped 90 percent over the same period a year ago, reaching $48.2 billion. It is the latest […]
Aramco’s Prosperity7 powers AI drug firm Insilico’s $95M round
Hong Kong-based drug discovery and development company Insilico has secured fresh capital at a time that its CEO described as a “biotech winter.” The firm has raised $35 million on […]
China’s Jaka Robotics fueled by Saudi Arabia’s Prosperity7 in global push
Jaka Robotics, a Chinese startup that makes collaborative robots, has just pulled in a hefty Series D funding round of over $150 million from a lineup of heavyweight investors to […]
Saudi Aramco cashes in on rising oil prices as profit jumps 80 percent.
Saudi Aramco, the national oil company of Saudi Arabia, reported on Sunday net come of $39.5 billion for the first quarter of 2022, a jump of about 80 percent from […]
Saudi Aramco Profits Nearly Triple as Oil Prices Rise
Saudi Aramco, the world’s largest oil company, said Sunday that its profits for the third quarter nearly tripled compared with the period a year earlier, as demand for the fuel […]
As Western Oil Giants Cut Production, State-Owned Companies Step Up
Kuwait announced last month that it planned to invest more than $6 billion in exploration over the next five years to increase production to four million barrels a day, from […]