Aramco has marked two major milestones in its gas expansion strategy with the start of unconventional production at the Jafurah field and the commissioning of the Tanajib Gas Plant, reinforcing its target to significantly expand Saudi Arabia’s gas production capacity by 2030.
In a statement sent to Rigzone on Monday, Saipem announced that it has been awarded an additional offshore contract in Saudi Arabia under its existing long-term agreement with Aramco.
Saudi Aramco has closed the acquisition of a 25% equity stake in Unioil Petroleum Philippines, a fuel storage and distribution company, Unioil announced on Friday.
The technology, which was jointly developed by researchers at KAUST and Aramco, merges aerial and terrestrial robotic capabilities for industrial inspection and monitoring applications. Through the agreement, Aramco will be able to further develop and deploy the HUCT across its operations.
Petro Rabigh’s overhaul aims to improve the plant’s operational reliability and includes asset upgrades to boost the output of higher-margin products. Aramco and Sumitomo will inject USD 1.4 billion through a Class B share issuance to reinforce Petro Rabigh’s balance sheet and help prepay outstanding debt.
“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.