“The transaction reflects Aramco’s commitment to its partners and, as it forges ahead with a downstream strategy that promotes value creation, business integration and portfolio diversification”, Aramco said in a statement on its website.
The broad view of the US President Donald Trump’s first administration as exclusively told to OilPrice.com at the time by a senior legal figure in that team was: “We’re not going to put up with any more crap from the Saudis.”
Saudi Aramco has completed a USD 5-billion bond issuance in three tranches under its Global Medium Term Note Program, the company announced on Monday.
The transaction was priced on May 27, 2025 and listed on the London Stock Exchange. The offering consists of three tranches of senior notes: USD 1.5 billion maturing in 2030 with a coupon rate of 4.750%, USD 1.25 billion maturing in 2035 with a coupon rate of 5.375% and USD 2.25 billion maturing in 2055 with a coupon rate of 6.375%.
Kent said this initiative will significantly enhance project value by streamlining the transition from the Design Basis Scoping Paper to the Front-End Engineering Design (FEED) stage. This integrated approach reduces traditional bidding periods, enabling earlier planning and execution of critical activities, which in turn boosts scheduling efficiency and accelerates project delivery, it said.
The company’s net debt rose to the highest in almost three years during the first quarter as it spends tens of billions of dollars on operations and a massive dividend amid softened oil prices. Aramco’s gearing ratio – a measure of its indebtedness – of 5.3 percent is far below that of most other oil majors, giving the firm room for increased borrowing.
Ali A. Al-Meshari, Aramco senior vice president for technology oversight and coordination, commented, “The pioneering flow battery system spearheaded by Aramco’s researchers represents a breakthrough for the oil and gas industry. Aramco already powers a large number of remote gas wells with solar panels connected to lead-acid battery systems, but our ground-breaking flow battery technology offers a flexible solution for diverse renewable energy storage requirements, making it an attractive option for a variety of industrial applications”.
Aramco is the biggest contributor to Saudi Arabia’s budget revenues and a vital source of funding for government projects. Because the Saudi government is quite ambitious with such projects, the budget breakeven price of oil has gone up to over $90 per barrel—even though Aramco has some of the lowest production costs in the world at its conventional oilfie.ds
During the dealmaking round, Aramco finalized an agreement to buy 1.2 million metric tons per annum (MMtpa) of LNG for 20 years from the fourth train of the under-construction Rio Grande LNG project in Brownsville, Texas. Owner NextDecade Corp. is seeking purchase commitments to be able to make an FID (final investment decision) on trains 4 and 5. NextDecade has so far approved three trains, which comprise phase 1 – out of eight planned for the project.
“Development of Louisiana LNG will position Woodside as a global LNG powerhouse, enabling the company to deliver approximately 24 Mtpa [million metric tons per annum] from its global LNG portfolio in the 2030s, and operating over 5 percent of global LNG supply”, Woodside said. “The development has expansion capacity for two additional LNG trains and is fully permitted for a total capacity of 27.6 Mtpa”.
Woodside bought the former Driftwood LNG project as part of its acquisition of Tellurian for $1.2 billion last year. The deal “adds a scalable US LNG development opportunity to our existing approximately 10 Mtpa of equity LNG in Australia,” Woodside chief executive Meg O’Neill said at the time. Then, this year, reports emerged that Woodside was looking for partners in the projects, seeking to sell up to 50% of the ownership.