Saudi Aramco's capital expenditure jumped 23.8% in the first quarter of 2024 despite scaling back a planned 1 million b/d production capacity expansion in January, the company said in its quarterly results. Aramco's Q1 spending was $10.83 billion, compared with $8.74 billion in the same year...
Oil giant Saudi Aramco commits to increased capital expenditure to meet demand growth after reporting a doubling in net income to $110bn in 2021
Saudi Arabia’s state oil company plans to cut capital expenditure to $25 billion or less next year, about half the amount it was originally planning, according to people familiar with the matter. Saudi Aramco may keep capex, most of which is spent on exploration and production, at a simila...
taking advantage of technology and innovation to increase the efficiency of production of crude oil and gas, and raise the level of reliability and sustainability. Through comprehensive and disciplined capital expenditure procedures, Saudi Aramco maintained itself through the...
Aramco also reported a decline in the free cash flow to 78.3 billion dollars in 2019 from 85.8 billion dollars in 2018 mainly because of the lower income after being offset by lower capital expenditure, which stood at 32.8 billion dollars in 2019, and favorable working capital movements. ...
The company produced the equivalent of 9.2 million barrels per day of crude oil over the course of the year, its annual results said. Capital expenditure was down in 2020 to $27 billion compared to $32.8 billion the year before. Aramco expects to spend $35 billion this year, some $5-10...
In March, Saudi Aramco announced plans to cut between $25bn and $30bn from its capital expenditurein response to the coronavirus pandemic. This was down from an initial target of $40bn. The company has put next year’s spending under review....
Saudi Aramco, the world’s largest company by revenue, will be cutting hundreds of jobs across its divisions to meet the slump facing the oil industry due to Covid-19 and the falling oil prices.
Capital expenditure was down in 2019 to $32.8 billion compared to $35.1 billion the year before. Aramco expects to spend between $25 billion to $30 billion this year, down some $10 billion than previous estimates. It “was an exceptional year for Saudi Aramco,” President and CEO Amin H...
Amin H. Nasser, Saudi Aramco President & CEO, emphasized the impact of partnerships in creating a highly efficient, cost-effective and reliable supply chain by stating: “Future readiness is forged from a culture of excellence - by giving people the skills they need to succeed in the jobs of...