Saudi Arabian Oil Company, commonly known as Saudi Aramco, has announced a net income of 106.2 billion U.S. dollars in 2024, down from 121.3 billion dollars in the previous year.Continue readingSaudi Aramco records net income of 106.2 billion U.S. dollars in 2024
Tag: saudi arabia
Thirteen of the ports with the highest supertanker traffic will be seriously damaged by just 1 metre of sea level rise, the analysis found. The researchers said two low-lying ports in…Continue reading‘Ironic’: climate-driven sea level rise will overwhelm major oil ports
By David Spratt at Climate Code Red If an unexpected leap in the global average temperature in 2023 was described by one scientist as “gobsmackingly bananas”, are there even words to…Continue readingA(nother) year of scientific shock and awe
The most profitable company in the world is Saudi Aramco, the national oil company of Saudi Arabia. It generates a daily profit of approximately 304 million dollars, which is about 3.519…Continue readingThe most profitable company in the world, the amount it earns every second is astonishing
Our new research published in Nature Climate Change shows the upper limits of human heat tolerance were breached for a total of 43 hours over the six days of Hajj. During…Continue readingMore than 1,300 Hajj pilgrims died this year when humidity and heat pushed past survivable limits—it’s just the start
The world soccer governing body is under fire for agreeing to an enormous sponsorship deal that is in direct opposition to its and others’ climate action goals FIFA inked a four-year…Continue readingFIFA faces enormous backlash over decision to accept sponsorship deal: ‘Might as well pour oil on the pitch and set it alight’
The Middle East and North Africa, which already include some of the hottest and driest spots on Earth, are undergoing accelerated climate change and will reach warming thresholds two to three…Continue readingStaggering temperature rise predicted for the Middle East and North Africa
Construction has started on a new, multi-billion-dollar refining and petrochemical complex in Fujian, China. The project involves a total investment of 71.1 billion yuan (US$9.9 billion), which is the largest industrial…Continue readingConstruction starts on $9.9bn petrochemical complex in China
Saudi Arabia has been working to foil any agreements that renew a pledge to transition away from fossil fuels, according to negotiators, says the New York Times. Negotiators say it’s part…Continue readingSaudi Arabia is a ‘wrecking ball’ in global climate talks
The 2024 northern summer saw the highest global temperatures on record, beating 2023’s high and making this year likely Earth’s hottest ever recorded. The data from the Copernicus Climate Change Service…Continue readingJune-August 2024 were hottest ever recorded: EU monitor
Saudi Aramco’s profits dipped in the last quarter after the world’s largest oil producer sold less crude and its refining margins weakened. Despite the drop in profits, Saudi Aramco said it…Continue readingSaudi Aramco profits dip as refining margins fall
Aramco has announced contracts totalling over $25bn to advance its gas expansion in Saudi Arabia, aiming for more than a 60% increase in sales gas production by 2030 compared to 2021…Continue readingAramco announces $25bn contracts to advance gas expansion in Saudi Arabia
Flash flooding and landslides swept away cars and houses, with at least one person known to have died, alongside widespread damage to transport infrastructure. Unsettled conditions persisted around the Alpine region…Continue readingHeavy rain in Switzerland and Italy causes flooding
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. “In the real world,…Continue readingSaudi Aramco CEO calls energy transition strategy a failure
Saudi Arabia is driving a huge global investment plan to create demand for its oil and gas in developing countries, an undercover investigation has revealed. Critics said the plan was designed…Continue readingRevealed: Saudi Arabia’s grand plan to ‘hook’ poor countries on oil
Saudi Arabia’s energy minister has slammed the door shut to agreeing to phase down fossil fuels at the UN’s COP28 climate talks, setting the stage for difficult negotiations in Dubai. A…Continue readingSaudi Arabia says ‘absolutely not’ to oil phase down at COP28
More than 400 oil and gas projects were approved globally in the last two years despite calls to abandon all new hydrocarbon development, new figures showed as the UN COP28 climate…Continue readingHundreds of new oil and gas projects approved despite climate crisis
Saudi Aramco’s net profits surpassed analyst expectations as it revealed the impact of deeper production cuts this summer after the kingdom moved to prop up the oil price. The state-run company,…Continue readingSaudi Aramco profits exceed expectations on back of buoyed oil price
Heat waves have always been part of summer, but the familiar short periods of oppressive conditions have grown into weeks to months of sweltering heat. Research has shown that heat waves…Continue readingHere are the places that could become too hot for humans due to climate change
Hyundai Engineering & Construction and Hyundai Engineering have inked a $2.4bn contract with Aramco for the construction of a gas processing plant for the Jafurah gas project phase two in Saudi…Continue readingHyundai affiliates sign $2.4bn contract for Jafurah gas project phase two
More than 2,000 people suffered heat stress during the hajj pilgrimage, Saudi officials said on Thursday, after temperatures soared to 48˚C (118˚F). Over 1.8 million Muslim worshippers performed the days-long hajj,…Continue readingThousands suffer heat stress on hajj pilgrimage as temperatures reach 48˚C
Environmental groups say the event in Perth to court the biggest polluting oil company of all time is ‘akin to a joint trade show with a tobacco major’Continue readingAustrade forum to promote links with oil giant Saudi Aramco condemned by activists
Saudi Arabia posted a budget surplus of US$27 billion (SR102bn) this year and 8.5% economic growth as the kingdom enjoys a petrodollar windfall from high oil prices. Revenues are expected to…Continue readingSaudi Arabia posts surplus of 27 billion US dollars with oil windfall
Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production. Revenue climbed 80% to $150 billion and free cash flow, which…Continue readingSaudi Aramco posts biggest quarterly profit of any listed company
Saudi Aramco has overtaken Apple as the world’s most valuable company after higher oil prices pushed shares of the world’s biggest crude exporter to record levels, while a broader tech stock…Continue readingSaudi Aramco overtakes Apple as the world’s most valuable company
An investor group, led by BlackRock, acquired a 49% stake in Aramco Gas Pipelines Co. in a lease and leaseback deal in December, according to a statement. The consortium also comprised…Continue readingSaudi Aramco closed a deal to sell a stake in its natural-gas pipelines for $15.5 billion