Economic history of Saudi Arabia

UN experts challenge Aramco over climate change

U.N. experts have written to oil firm Saudi Aramco and its financial backers challenging them on allegations that their activities are fuelling climate change-related negative impacts on human rights.

A cache of correspondence was published on Aug. 26 on a United Nations human rights special procedures website, exactly two months after it was sent.

Aramco, TotalEnergies sign contracts for $11bln Saudi complex

 

Saudi Aramco and France's TotalEnergies have signed contracts to start building an $11-billion petrochemicals facility in the Gulf kingdom, the two companies said.

A signing ceremony for the engineering, procurement and construction contracts for the Amiral complex took place at Aramco's headquarters in Dhahran, in Saudi Arabia's Eastern Province.

Saudi Aramco unveils record $48.4 billion profit in Q2

Oil giant Saudi Aramco yesterday unveiled record profits of $48.4 billion in the second quarter of 2022, after Russia's war in Ukraine and a post-pandemic surge in demand sent crude prices soaring.    

Net income leapt 90 percent year-on-year for the world's biggest oil producer, which clocked its second straight quarterly record after announcing $39.5 billion for Q1.    

Oil is Now $120 a Barrel

Oil prices continue to rise today after Saudi Arabia raised the prices of its supplies for July and made it clear that the market remains tense despite last week's agreement with OPEC + countries to increase production by more than previously agreed, Reuters reported, quoted by BTA.

Top oil exporter Saudi Arabia targets zero carbon emissions by 2060

Top crude exporter Saudi Arabia will aim to achieve net zero carbon emissions by 2060, its de facto ruler said on Oct. 23, days before the COP26 global climate summit.

The kingdom, one of the world's biggest polluters, said it would also join a global effort to cut methane emissions by 30 percent by 2030.

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