SABIC Posts $1.6B Q3 Net Profit

• Monday, 29th October 2018
• by Editorial Team

Saudi Basic Industries Corp (SABIC) has announced a net profit of $1.6 billion in Q3 2018 on the back of rising average prices and sales, Pipeline Oil and Gas Magazine reported. Profits rose 5.4% from the $1.5 billion...

Saudi Sovereign Fund Borrows $11B Following Aramco IPO Delay

• Monday, 27th August 2018
• by Editorial Team

Saudi Arabia’s sovereign wealth fund has borrowed $11 billion from international banks after plans for an initial public offering (IPO) of state-owned oil firm Saudi Aramco were delayed indefinitely, an industry...

Saudi Fund May Raise $106b From Aramco Stake Sale

• Sunday, 10th April 2016
• by Egypt Oil & Gas

Saudi Arabia’s sovereign wealth fund could receive $106b in cash from the sale to the public of a 5% stake in oil giant Aramco’s parent company, according to the Sovereign Wealth Fund Institute, Bloomberg informed. “I...