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Saudi Aramco
Saudi Arabia's state-owned oil giant Aramco posted first-quarter profits of $26 billion on Sunday, down 4.6% from the prior year. Aramco, formally known as the Saudi Arabian Oil Co, had revenues of $108.1 billion over the quarter, the company reported in a filing on Riyadh's Tadawul stock exchange. The company saw $107.2 billion in revenues and profits of $27.2 billion the same quarter last year. Aramco's stock traded over $6 a share Thursday, down from a high of around $8 last year. It has dropped over the past year as oil prices have dipped, and in recent months, as the OPEC+ oil cartel announced restoring production more rapidly and as uncertainty driven by US tariffs has rippled through Middle Eastern markets. Benchmark Brent crude traded Friday at over $63 a barrel, down from highs of over $80 in the last year.
The world's biggest corporations have caused USD 28 trillion in climate damage, a new study estimates as part of an effort to make it easier for people and governments to hold companies financially accountable, like the tobacco giants have been. A Dartmouth College research team came up with the estimated pollution caused by 111 companies, with more than half of the total dollar figure coming from 10 fossil fuel providers: Saudi Aramco, Gazprom, Chevron, ExxonMobil, BP, Shell, National Iranian Oil Co., Pemex, Coal India and the British Coal Corporation. For comparison, USD 28 trillion is a shade less than the sum of all goods and services produced in the United States last year. At the top of the list, Saudi Aramco and Gazprom have each caused a bit more than USD 2 trillion in heat damage over the decades, the team calculated in a study published in Wednesday's journal Nature. The researchers figured that every 1 per cent of greenhouse gas put into the atmosphere since 1990 has cau
Former U.S. national team captain Becky Sauerbrunn and Netherlands forward Vivianne Miedema are among more than 100 women's soccer players who have signed an open letter protesting FIFA's sponsorship deal with Saudi Arabian state oil giant Aramco. The letter calls the deal, which includes sponsorship at the 2027 Women's World Cup in Brazil, "much worse than an own goal," citing Saudi Arabia's record on the rights of women and LGBTQ+ people and the impact of Aramco's oil and gas production on climate change. Sauerbrunn voiced concern for women who are imprisoned in Saudi Arabia. The safety of those women, the rights of women, LGBTQ+ rights and the health of the planet need to take a much bigger priority over FIFA making more money, Sauerbrunn said in comments via campaign group Athletes Of The World. The letter calls on FIFA to replace Aramco with alternative sponsors whose values align with gender equality, human rights and the safe future of our planet, and to give players a voice
Saudi oil giant Aramco reported half-year profits Tuesday of USD 56.3 billion, down from the year before due to weakening volumes sold amid worries about the global economy. Aramco, formally known as the Saudi Arabian Oil Co., said its overall revenue for the half-year was USD 220.7 billion, up from USD 218.6 billion the year before. Profits in 2023 were USD 61.9 billion, nearly USD 5 billion higher. The decrease was primarily a result of lower crude oil volumes sold, weakening refining margins and lower finance and other income, Aramco said in a filing on Riyadh's Tadawul stock exchange. This was partially offset by higher crude oil prices and lower production royalties compared to the same period last year and lower income taxes and zakat, or Islamic charitable contributions. Saudi Arabia, a leader in the OPEC cartel, has allied with Russia and others outside of the group to try to keep production down to boost global oil prices. Benchmark Brent crude traded around USD 77 a barrel