Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
US independents stick to the script
Shale producers are cautiously eyeing Opec+ before lifting capex while substantially trimming hedging
Giant oil and gas discoveries may prove irrelevant
The energy transition is increasing the risk of huge discoveries becoming stranded indefinitely
Aramco resumes upstream action
Oil market recovery is financing a cautious renewal of spending on core domestic projects
Aramco rolls with the Covid punches
The Saudi heavyweight posts an eye-watering drop in profits but pays its dividends and remains in the black
Letter from the Middle East: The counter-cyclical unconventional renaissance
While US shale firms batten down the hatches or seek M&A solutions to their problems, Mid-East Gulf unconventionals are enjoying a revival
Iraq and Iran move further apart
Baghdad’s pivot away from its neighbour is increasingly extending to their shared resources
Canadian oil industry in dire straits
Production across the country is in freefall, prompting oil-rich province Alberta to plead for financial support
Navigating Norway’s cut
The non-Opec nation’s decision to join in mandated production restrictions is headline grabbing. But the material impact is open to question
Texas searches for oil industry salvation
Record low oil prices are compelling the state to consider proration. But greater measures may be needed to stave off financial ruin
Aramco’s upstream comes into focus
Saudi heavyweight must achieve ambitious government pledge despite revenues feeling the squeeze
Aramco’s net income in the past quarter was the highest since the company’s listing in 2019
Saudi Aramco Saudi Arabia Oil markets Petrochemicals
Clare Dunkley
16 August 2022
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Future-proofing Aramco

Record profits allow for investment drive not just in the upstream but also the downstream and in lower-carbon

State oil heavyweight Saudi Aramco’s vast $48.8bn second-quarter profit—the biggest of any listed company worldwide—came as little surprise, given the oil market’s sustained bull run. The firm’s commitment to ploughing its windfall into an upstream expansion programme, designed to ensure it is not only a key player while the world has—in its view—continued long-term need for its core product, but also the ‘last man standing’ as and when oil demand finally goes into retreat, is also familiar ground. But it is also showing awareness of the gathering decarbonisation storm clouds. And it is likewise investing heavily to armour its business. Financial metrics were predictably glittering across th

Also in this section
OPEC+ still showing restraint
11 June 2025
Petroleum Economist analysis shows OPEC bringing back some barrels in May, but fewer than expected, while OPEC+ continues to see output fall
EU faces tough task following Japan LNG model
10 June 2025
The bloc may find it very difficult to replicate Japan’s approach due to fundamental differences in policy and the markets
Australia’s LNG flashpoint
10 June 2025
Scapegoating foreign buyers will not solve country’s gas shortages
Lower oil prices fuel US driving season
10 June 2025
US gasoline consumption is at its highest level since before COVID, but while stocks remain healthy, the hurricane season threatens

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search