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KOTRA Express talks to Fahad A. Al-Sahali, Representative Director of Aramco Asia Korea Limited, to hear more about Korea’s oil industry and his experience doing business here.
Aramco Asia Korea Ltd. (Aramco Korea), a fully owned subsidiary of Saudi Aramco, presented a donation to the Korea Energy Foundation today, to support the installation of five solar-powered Aramco Hope Trees, as part of the corporate citizenship endeavor for the benefit of local communities where it operates.
Aramco Asia Korea Ltd. (Aramco Korea), an affiliate of Saudi Aramco, presented its third donation to the Seoul Metropolitan Government today, to support the construction of the Solar Playground, as part of its corporate citizenship initiative for the local communities where it operates.
Saudi Arabian Oil Company (Saudi Aramco) has completed the acquisition of Shell Saudi Arabia Refining Limited’s (Shell) 50% interest of the SASREF joint venture in Jubail Industrial City, in the Kingdom of Saudi Arabia, for $631 million.
Saudi Aramco today announced for the first time its half-year financial results. The Company’s net income was $46.9 billion for the first half 2019, compared to $53.0 billion for the same period last year. Earnings before interest and tax* was $92.5 billion, compared with $101.3 billion a year earlier. Free cash flow* was $38.0 billion, compared to $35.6 billion for the same period last year. Capital expenditure was $14.5 billion, compared to $16.5 billion for the same period in 2018.
Saudi Aramco and its affiliates signed 12 agreements with major South Korean companies to reinforce relationships with South Korea, expand international operations, and support the region’s energy security with the expansion of Arabian crude oil supply to Asian markets.
Aramco Asia Korea Ltd. (Aramco Korea), a fully owned subsidiary of Saudi Aramco, extended helping hands to ChildFund Korea (ChildFund) today, through a donation program that educates children about health awareness and protection, as part of Aramco Korea’s commitment to corporate social responsibility (CSR).
Saudi Aramco awards contracts valued at $18 billion to increase Marjan and Berri oilfields’ production capacity
Saudi Aramco has awarded 34 contracts with a total value of $18 billion for the engineering, procurement and construction of the Marjan and Berri increment programs. The company plans to boost the Marjan and Berri fields’ production capacity by 550,000 barrels per day of Arabian Crude Oil and 2.5 billion standard cubic feet a day (BSCFD) of gas.
Saudi Aramco is advancing its global chemicals growth strategy with today‘s inauguration of S-Oil’s new Residue Upgrading Complex and Olefin Downstream Complex.
DHAHRAN/ SEOUL, SOUTH KOREA
The investment supports Saudi Aramco’s broader downstream growth strategy, as well as providing long term crude oil options and offtakes as part of our trading business.