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- New licensing options, FDI surge power DMCC's growth
- Egypt's economy defies global turbulence as Gulf investments flow in: Standard Chartered
- Saudi Arabia extends IPO lead with $1.9bn in Q2 listings, EY says
- Saudi banks' June profits hit record $2.63bn amid loan growth, digital boom
- Gulf Bank hosts AI workshop in collaboration with INJAZ to support & empower youth
- Salalah Free Zone attracts OMR187 million in investments during first half of 2025
- FSA unveils regulatory framework for Promising Companies Market
- Zain Bahrain launches exclusive club for premium customers
- Kamco Invest Saudi relocates to King Abdullah Financial District
- Work starts on Bahrain's first major utility-scale power plant
29/03/2018 08:00 AST
Saudi Aramco finalized a deal on Wednesday with Malaysian state energy company Petroliam Nasional Berhad (Petronas) to invest in a refinery project off Malaysia.
The Saudi oil giant agreed in February last year to buy a $7 billion stake in Petronas' Petrochemical Integrated Development (RAPID) project, but the issue was then delayed by "technical issues."
RAPID is a $27 billion project located between the Malacca Strait and the South China Sea, a conduit for Middle East oil and gas bound for China, Japan and South Korea.
The two companies said in a statement that they signed the deal on Wednesday, but did not confirm the value of Aramco's investment.
Saudi Aramco will supply
50 percent of the refinery's crude oil with an option of increasing it to 70 percent, the statement said.
The development will contain a 300,000 barrel-per-day oil refinery and a petrochemical complex with a capacity of 7.7 million metric tons a year. Refinery operations are set to begin in 2019, with petrochemical operations to follow about 6-12 months afterward.
Arab News
07/08/2025
Saudi Aramco has increased the official selling price of its flagship Arab Light crude for Asian buyers in September.
The state-owned energy giant raised the Arab Light price by $1 per barre
Arab News
06/08/2025
Saudi Aramco reported a net profit of SR85 billion ($22.67 billion) for the second quarter of 2025, underscoring its operational strength and financial resilience amid ongoing market volatility.
Arab News
01/08/2025
Saudi Aramco has reduced its official selling prices for liquefied petroleum gas for August 2025.
The state energy giant on Thursday set propane at $520 per tonne and butane at $490 per tonn
Arab News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| ABAR | 169.00 | 0.00 (0.00 |
| ADNOCGAS | 3.37 | 0.01 (0.29 |
| ADNOCDRILL | 5.74 | -0.03 (-0.52 |
| ADES | 14.91 | -0.14 (-0.94 |
| BAHRI | 22.30 | -0.07 (-0.32 |
11/08/2025
As part of its ongoing commitment to supporting youth and equipping them with the tools of the future, Gulf Bank, in collaboration with INJAZ Kuwait, organized an interactive workshop on Artificial I
Kuwait Times
11/08/2025
Zain Bahrain, a leading telecom and technology provider in the Kingdom, is proud to announce the launch of 'Signature', an exclusive club for its premium customers.
Signature offers a range
Trade Arabia
11/08/2025
Kamco Invest, a regional non-banking financial powerhouse with one of the largest AUMs in the region, announced today (August 9) the relocation of its Saudi office to King Abdullah Financial District
Trade Arabia
11/08/2025
SNB Capital, a leading regional financial institution, said it has successfully completed the SAR7.1 billion ($1.9 billion) capital increase of Acwa Power, Saudi Arabia's leading developer, investor,
Trade Arabia
11/08/2025
Abu Dhabi National Oil Company for Distribution, the retail arm of the UAE's state energy giant, is accelerating its push into Saudi Arabia, with plans to open 160 new service stations by next year,
Gulfnews
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