RIYADH: SATORP, a joint venture between oil giant Aramco and France’s Total Oil Co., swung to profits of SR7 billion ($2 billion) in the first nine months of 2022. It managed to erase losses of SR1.2 billion from the same period a year earlier as sales more than doubled to nearly SR59 billion, according to a bourse filing. The firm has also outperformed in the third quarter of
RIYADH: SATORP, a joint venture between oil giant Aramco and France’s Total Oil Co., has named Abdullah Al-Suwailem as its new president and CEO. Al-Suwailem will be replacing Sulaiman Ababtain as of Sept. 1 for a period of five years, according to a bourse filing. Al-Suwailem has over 34 years’ experience in the refining and petrochemical industries and has held various
RIYADH: SATORP, a joint venture between oil giant Aramco and France’s Total Oil Co., swung to profits of SR4.5 billion ($1.2 billion) in the first half of 2022. It managed to erase losses of SR1.03 billion from the same period a year earlier as sales more than doubled to nearly SR40 billion, according to a bourse filing. The firm attributed the positive results to improved
RIYADH: Arabian Aramco Total Services Co. has partially redeemed its Sukuk with a distribution amount of SR208 million ($55 million), bringing the outstanding principal to SR1.67 billion. This represents 5.54 percent of the Sukuk’s original face value, according to a bourse filing. Its parent company SATORP, a joint venture between oil giant Aramco and France’s Total Oil Co.,
RIYADH: Saudi Arabia’s main stock market ended Monday with another steep decline, as concerns over the global economy and mixed earnings reports tempered investor optimism. TASI lost 0.8 percent to 12,235, while the parallel market Nomu added 0.15 percent to 22,363. Dubai’s stock market led the fall in the Gulf as it shed 2.5 percent, followed by indexes of Abu Dhabi and