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Saudi Aramco sells first LNG as oil giant expands into gas

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State-run Aramco seeks to become a “major player” in the gas industry and is looking for potential joint ventures and partnerships, Nasser said in Riyadh. “There is a lot of potentials to grow our gas in the kingdom. At the same time, we are looking at international gas.”

Aramco sold the shipment of liquefied natural gas from Singapore, Chief Executive Officer Amin Nasser told reporters, without giving additional details. Aramco’s trading subsidiary sold the cargo last month to an Indian buyer, according to a person with knowledge of the matter. – https://www.livemint.com

Saudi Aramco’s chief executive said on Thursday the company was in discussions with many partners around the world regarding potential joint ventures in gas, and that it has sold its first LNG cargo. https://www.nasdaq.com

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Aramco

Saudi Aramco said it is ready to go public…will wait for better market conditions

“We, in Saudi Aramco, have delivered strong and unmatched financial results, despite lower oil prices and volatile market conditions. This is really a testament to our resilience,” said al-Dabbagh, noting the talks are in the early stages.

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It looks like the same old song and dance from Saudi Aramco. basically repeating themselves for over a year.

Saudi Aramco said it is ready to go public, but the Saudi government will decide when market conditions are optimal for what would be the largest IPO ever.

“Basically, the company is ready for the IPO. Now the timing of the IPO itself, this is a shareholder’s issue, and they will announce it depending on their perception of what would be the optimum market condition,” said Khalid al-Dabbagh, chief financial officer, reiterating the company’s previous stance.

Video of Saudi Aramco talking about the same thing.

they might have to wait yet another year if the Market goes into recession the end of the year or early next.

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Aramco

Saudi Oil Company Makes More Than Apple and Exxon Combined

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For the first time ever, Saudi Arabia on Monday unveiled the finances of Aramco, its national oil company, revealing that it brought in $111 billion in net income in 2018. [link] demonstrating that the cloistered kingdom is willing to undergo unprecedented scrutiny to tap international cash.[link]

Fitch gave the Saudi oil producer a credit rating of A+. It is the first ever credit rating for Aramco, and offers a glimpse into the company’s accounts, which have remained secret since its nationalization in the late 1970s.[link] By Buying and transferring the Sabic stake to Aramco, Saudi Arabia’s government will effectively be able to tap into Aramco’s oil earnings to boost its sovereign-fund investments and help diversify the economy after delaying the oil producer’s planned initial public offering.[link]

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