Saudi Arabia's national oil companies, Saudi Aramco and ADNOC, are planning to diversify their operations by extracting lithium from brine in their oilfields, aiming at a $2.5 trillion mining strategy. This move is part of a broader strategy to diversify the economy in line with Vision 2030, which includes Saudi Arabia's Public Investment Fund (PIF) making bold investments. Additionally, Aramco has announced a $121 billion profit for the last year, a decrease from the previous year's record, and a lower net income for Q4. The company plans to increase spending on gas projects and infrastructure, including the Jaffoura project and the east/west gas pipeline, and possibly a higher dividend to the state. Aramco is also exploring potential acquisition opportunities with LNG players in the US and expects the global oil market to remain healthy with a growth of 1.5 million barrels per day (bpd) in 2024.
Aramco in talks with LNG players in the US for potential acquisition opportunities- Aramco CEO #OOTT #Aramco
BREAKING: Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 record https://t.co/djovQkfhbz
We expect the global oil market to remain healthy this year with a growth of 1.5 million bpd for 2024- Amin Nasser CEO of Aramco #OOTT #Aramco
Aramco is announcing their full year 2023 results today. What to expect: A lower net income for Q4, more spending on gas projects (Jaffoura), more spending on gas infrastructure projects the east/west gas pipeline, and perhaps higher dividend to the state. #OOTT
💡 Saudi Arabia’s mining strategy hits $2.5 trillion bullseye, international focus now? - @HilltowerRA on https://t.co/orvmA6Wqwk Full Story → https://t.co/DYuoKZlaRZ
Smaller than expected dividend from $PBR today as the company may focus more on diversifying into renewables https://t.co/FrB3OpGl7P
Saudi Arabia’s PIF poised for more bold investments as Vision 2030 squeezes war chest, @sam_wendel writes https://t.co/UPcz1Tf1oE
⚠️ EXCLUSIVE-GULF OIL GIANTS SAUDI ARAMCO, ADNOC SET SIGHTS ON LITHIUM Full Story → https://t.co/lGTuS7lGw1 Saudi Arabia and the United Arab Emirates' national oil companies plan to extract lithium from brine in their oilfields, in line with efforts to diversify their… https://t.co/EyQ7zpgvhq