Valvoline Soars Over 25% on Saudi Aramco Takeover Rumor

Valvoline soared Wednesday on talk of a takeover approach according to the WSJ quoting people familiar with the matter from Saudi Arabian Oil Co., aka Aramco. The State oil company just overtook Apple as the world’s biggest company and has money to spend and is prepared to strengthen its position as it showed increasing capital expenditures to $40-50 billion from nearly $32 billion in 2021. Valvoline was valued at $5.4 billion as of Tuesday’s closing price. Shares of Valvoline were … Continue reading “Valvoline Soars Over 25% on Saudi Aramco Takeover Rumor”

Saudi Aramco Plans to Increase Capital Expenditures to $40-50 billion from $32 billion

The majority of major energy companies have been decreasing or keeping Capital Expenditure flat for a multitude of reasons, including ESG policy, politics, lack of access to credit. However Saudi Arabian Oil Co., aka Aramco, who just overtook Apple as the world’s biggest company, plans to increase this year’s capital expenditures to $40-50 billion from nearly $32 billion in 2021. Aramco also aims to reduce its global footprint as it moves to achieve net-zero greenhouse gas emissions across the portfolio … Continue reading “Saudi Aramco Plans to Increase Capital Expenditures to $40-50 billion from $32 billion”

UAE and Saudi Arabia Reach Compromise For OPEC+ To Boost Oil Production

OPEC+ led by Saudi Arabia on Sunday agreed to a request from the United Arab Emirates to ease cuts by 2 mln bpd until year end. UAE, KSA, Russia, Iraq see output quota adjustment. Oil prices are near 2-1/2 year highs on pandemic economic recovery.

Saudi Aramco Slashes Crude Oil Price After Bitter Failure of OPEC+ Marriage

Saudi Arabia aggressively slashed oil prices Saturday. Divorce can be bitter, especially when it is between two parties like Saudi Arabia and Russia that should have never got married. The collapse of OPEC+ after Russia walked away and said produce as much as you want is the inevitable result of tolerating a cheating spouse Saudi Arabia state oil giant Saudi Aramco in a statement on Saturday announced it cuts its official selling price for April for all its crude grades … Continue reading “Saudi Aramco Slashes Crude Oil Price After Bitter Failure of OPEC+ Marriage”

Saudi Petrol Chemical Feedstock Levels Getting Back to Normal

Feedstock for Saudi petrochemical companies is expected to be back to normal levels by the end of September according to two of the Kingdom’s biggest downstream users. This is earlier than expected after the attacks on the Aramco facility a few weeks ago.

Saudi Arabia Economy Recovers, To Accelerate With Higher Oil Production

The Saudi Arabian economy recovered in the first quarter of 2018 of shrinking in 2017. With oil production set to raise 20% with King Salman bin Abdulaziz Al Saud intention to boost oil production by up to 2 million bpd. There are hopes this will boost the stagnant non-oil segments.

U.S. and Saudi Arabia Agree to Increase Oil Production to Balance Markets

King Salman bin Abdulaziz Al Saud on Saturday received a call from U.S. President Donald Trump and agreed on producing countries to compensate for any potential shortage of supplies. Trump tweeted that Saudi Arabia will add up to 2 million bpd.