Saudi oil giant Aramco posts third-quarter profits of $27.5 billion, down 15% from a year earlier
1 month, 2 weeks ago

Saudi oil giant Aramco posts third-quarter profits of $27.5 billion, down 15% from a year earlier

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Saudi Arabian oil giant Aramco reported third-quarter profits of $27.5 billion on Tuesday, down about 15% from last year as low oil prices ate into its revenues. Aramco, formally known as the Saudi Arabian Oil Co., had revenues of $111.1 billion over the quarter, the company said in a filing on Riyadh's Tadawul stock exchange. The profit decrease “was mainly due to the impact of lower crude oil prices and weakening refining margins,” Aramco said.

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History of this topic

Saudi Aramco to take on more debt, focus on dividend growth: CFO Ziad Al-Murshed
1 month ago

Saudi Aramco to take on more debt, focus on dividend growth: CFO Ziad Al-Murshed

Live Mint  

Saudi Arabian Oil Co. plans to take on more debt and will focus on “value and growth” for its dividend, the company’s finance chief said. “It’s nothing to do with the dividend, it is optimizing our capital structure so that we end up with a lower weighted average cost of capital.” Saudi Aramco tapped debt investors earlier this year when …

Saudi minister warns of $50 oil as OPEC+ members flout production curbs
2 months, 3 weeks ago

Saudi minister warns of $50 oil as OPEC+ members flout production curbs

Live Mint  

The Saudi oil minister has said that prices could drop to as low as $50 per barrel if so-called cheaters within OPEC+ don’t stick to agreed-upon production limits, according to delegates in the cartel. But geopolitical tensions have persisted for months without meaningful effect on oil prices, and the declines have been frustrating for Saudi officials in part because other …

Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices
4 months, 2 weeks ago

Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi oil giant Aramco reported …

Saudi Aramco’s $12 billion share sale: Dividends attract Indian, Chinese, and other foreign investors
6 months, 2 weeks ago

Saudi Aramco’s $12 billion share sale: Dividends attract Indian, Chinese, and other foreign investors

Hindustan Times  

Foreign investors have flocked to Saudi Aramco’s $12 billion share sale, mostly attracted by the dividends, sources who did not wish to be identified, told Bloomberg. This is a completely opposite situation from the oil giant’s 2019 IPO that ended up as a largely local affair, as investors weren’t happy with the valuation expectations, Bloomberg reported. Apart from Western institutions, …

Why Saudi Aramco stock is a tough sell on Wall Street
6 months, 3 weeks ago

Why Saudi Aramco stock is a tough sell on Wall Street

Live Mint  

Saudi Aramco’s generous dividends can only go so far in making up for an overpriced initial public offering. The Saudi government, which will still own more than 80% of Aramco at the end of the sale, will use the proceeds to fund the country’s cash-hungry Vision 2030 initiatives. Aramco shareholders missed out on the share-price rallies and bumper payouts delivered …

How Saudi Aramco plans to win the oil endgame
6 months, 3 weeks ago

How Saudi Aramco plans to win the oil endgame

Live Mint  

THE MANAGERS of Saudi Aramco could have the cushiest jobs in the energy business. During a visit to Saudi Arabia in May by Jennifer Granholm, America’s energy secretary, Aramco signed agreements with several American green startups. This could capture around 6m tonnes a year of Aramco’s own emissions, and another 3m from industrial customers, and either sequester them underground or …

Oil giant Saudi Aramco offers a second stock tranche worth billions of dollars
6 months, 3 weeks ago

Oil giant Saudi Aramco offers a second stock tranche worth billions of dollars

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia said Friday it …

Oil giant Saudi Aramco offers a second stock tranche worth billions of dollars
6 months, 3 weeks ago

Oil giant Saudi Aramco offers a second stock tranche worth billions of dollars

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia said Friday it will sell a second sliver of stock in its state oil giant Aramco worth billions of dollars, its first tranche since its initial public offering back in 2019. Saudi Aramco, formally known as the Saudi Arabian Oil Co., acknowledged the stock sale in a corporate disclosure online. The Saudi government …

Saudi Arabia may announce landmark Aramco share sale soon: Report
6 months, 3 weeks ago

Saudi Arabia may announce landmark Aramco share sale soon: Report

Hindustan Times  

Saudi Arabia may announce a landmark secondary share offering in oil giant Aramco later on Thursday, pending final approval from Crown Prince Mohammed bin Salman, people with knowledge of the matter said. Aramco share sale: The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France. The share offering on Riyadh's Saudi Exchange, which the sources said is expected …

Saudi Aramco swears by long-term potential in Chinese market
7 months, 1 week ago

Saudi Aramco swears by long-term potential in Chinese market

China Daily  

Visitors gather at Saudi Aramco's booth during an expo in Abu Dhabi, the United Arab Emirates. Saudi Aramco, the world's largest oil exporter, said it is fairly optimistic about China's long-term growth potential and the abundant opportunities arising from the country's focus on high-quality development. The company will continue supporting China's long-term energy security and economic growth, eyeing greater investment …

Saudi Aramco says Q1 profit down 14.5 percent
7 months, 2 weeks ago

Saudi Aramco says Q1 profit down 14.5 percent

Hindustan Times  

Oil giant Saudi Aramco said Tuesday its first-quarter net profit dipped 14.5 percent on year to $27.27 billion as the Gulf kingdom kept production cuts in place. The world's biggest crude exporter, whose profits dropped by a quarter last year, is currently producing roughly nine million barrels per day, well below its capacity of 12 million bpd. Deficits expected The …

Aramco dividend hike hands PIF $5 billion quarterly windfall: What this means
9 months, 1 week ago

Aramco dividend hike hands PIF $5 billion quarterly windfall: What this means

Hindustan Times  

Saudi Arabia’s sovereign wealth fund is set to earn about $5 billion in quarterly dividend payments from its stake in Aramco, after the government handed it more shares in the state-controlled oil company, which then said it would boost shareholder payouts. The hike in Aramco’s dividend, which is set to total at least $124 billion this year, comes days after …

Saudi Aramco's profit drops to $121B in 2023 amid energy price decline
9 months, 2 weeks ago

Saudi Aramco's profit drops to $121B in 2023 amid energy price decline

Hindustan Times  

Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices. The results still marked the company's second highest ever result, Aramco said, as members of the OPEC alliance continue to cut their production to try to boost global energy prices. “The decrease mainly reflects the …

Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 record
9 months, 2 weeks ago

Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 record

Associated Press  

DUBAI, United Arab Emirates — Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices. The results still marked the company’s second highest ever result, Aramco said, as members of the OPEC+ alliance continue to cut their production to try to boost global energy prices. …

Saudi Arabia's Aramco Q2 profit drops 40% due to lower oil prices
1 year, 4 months ago

Saudi Arabia's Aramco Q2 profit drops 40% due to lower oil prices

Hindustan Times  

Saudi Arabia's state-run oil giant Aramco made $30 billion in profit in the second quarter, a nearly 40% decline from the same period the previous year, which it attributed to lower crude oil prices. An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia. In an earnings report filed …

Saudi oil giant Aramco reports $30B in profits, down nearly 40% from last year due to lower prices
1 year, 4 months ago

Saudi oil giant Aramco reports $30B in profits, down nearly 40% from last year due to lower prices

Associated Press  

DUBAI, United Arab Emirates — Saudi state-run oil giant Aramco on Monday reported $30 billion in second quarter profit, a nearly 40% decline from the same period the previous year that it attributed to lower oil prices. In an earnings report filed with the Saudi stock exchange, Aramco said the decrease “mainly reflected the impact of lower crude oil prices …

Oil giant Saudi Aramco's 1st quarter profit down 20% to $31B
1 year, 7 months ago

Oil giant Saudi Aramco's 1st quarter profit down 20% to $31B

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Oil giant Saudi Aramco reported …

Aramco Q1 PAT plummets 19% to $31.9 billion on lower crude prices
1 year, 7 months ago

Aramco Q1 PAT plummets 19% to $31.9 billion on lower crude prices

Live Mint  

On Tuesday, the Saudi oil giant Aramco reported a first-quarter net profit of 119.54 billion riyals, a drop of around 19% from the same period of the previous year. Aramco said the drop was mainly driven by lower crude prices, although partially offset by lower taxes and zakat and a rise in finance and other income. As per Refinitiv data, …

Saudi prince announces transfer of 4% Aramco stake to public investment firm
1 year, 8 months ago

Saudi prince announces transfer of 4% Aramco stake to public investment firm

Hindustan Times  

Saudi Arabia's crown prince announced Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to a subsidiary of the kingdom's sovereign wealth fund, further boosting its coffers as the kingdom tries to expand its economy beyond oil. Crown Prince Mohammed bin Salman's decision, announced by the state-run Saudi Press Agency, sends the stake to the Saudi …

Saudi prince gives 4% Aramco stake to public investment firm
1 year, 8 months ago

Saudi prince gives 4% Aramco stake to public investment firm

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s crown prince announced Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to a subsidiary of the kingdom’s sovereign wealth fund, further boosting its coffers as the kingdom tries to expand its economy beyond oil. Crown Prince Mohammed bin Salman’s decision, announced by the state-run Saudi Press Agency, sends …

Saudi Aramco to invest billions in Chinese petrochemicals
1 year, 8 months ago

Saudi Aramco to invest billions in Chinese petrochemicals

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia's state-owned oil giant …

Oil giant Saudi Aramco makes a historic $161B profit in 2022
1 year, 9 months ago

Oil giant Saudi Aramco makes a historic $161B profit in 2022

Associated Press  

DUBAI, United Arab Emirates — Oil giant Saudi Aramco reported Sunday earning $161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists. The monster profit by the firm, known formally as the Saudi Arabian Oil Co., came off the back of energy prices rising after Russia launched its war …

Oil giant Saudi Aramco reports 46% jump in profits for 2022
1 year, 9 months ago

Oil giant Saudi Aramco reports 46% jump in profits for 2022

Firstpost  

Riyadh: Saudi Aramco reported on Sunday that profits jumped 46 per cent last year, highlighting how a surge in oil prices after Russia invaded Ukraine spurred growth in the world’s biggest crude exporter. Aramco’s results are consistent with record profits for 2022 reported by the five oil majors –- Shell, Chevron, ExxonMobil, BP and TotalEnergies – which surpassed $150 billion …

Explained | Taxing windfall profits of oil companies
1 year, 10 months ago

Explained | Taxing windfall profits of oil companies

The Hindu  

The story so far: On February 3, the Union government hiked the windfall profit tax levied on domestically-produced crude oil as well as on the export of diesel and aviation turbine fuel. This led to sharp increases in fossil fuel prices as sovereigns went to look for other suppliers for its energy needs, culminating in major profits for oil companies. …

Oil giant Saudi Aramco has $42.4B profit in third quarter
2 years, 1 month ago

Oil giant Saudi Aramco has $42.4B profit in third quarter

Associated Press  

DUBAI, United Arab Emirates — Oil giant Saudi Aramco on Tuesday reported a $42.4 billion profit in the third quarter of this year, a 39% bump buoyed by the higher global energy prices that have filled the kingdom’s coffers but helped fuel inflation worldwide. The oil firm’s profits will help fund the kingdom’s assertive Crown Prince Mohammed bin Salman’s plans …

Saudi Aramco posts biggest quarterly profit of any listed company
2 years, 4 months ago

Saudi Aramco posts biggest quarterly profit of any listed company

Al Jazeera  

Saudi Aramco’s net income climbed to $48.4bn in the second quarter, up from $25.5bn in 2021, the company said. Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production. Aramco “expects oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global …

High oil prices help Saudi Aramco earn $88B in first half
2 years, 4 months ago

High oil prices help Saudi Aramco earn $88B in first half

Associated Press  

DUBAI, United Arab Emirates — Saudi energy company Aramco said Sunday its profits jumped 90% in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion. Prices have dipped below the $100 mark in past weeks amid slowed-down economic growth in China and the U.S. Aramco President CEO Amin Nasser said he …

Saudi oil giant Aramco’s first-quarter profits surge 80%
2 years, 7 months ago

Saudi oil giant Aramco’s first-quarter profits surge 80%

Associated Press  

DUBAI, United Arab Emirates — Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and surging oil prices following Russia’s invasion of Ukraine. The bumper first-quarter earnings by the firm formally known as the Saudi Arabian …

Exxon profits surge despite $3.4B hit from Russian exit
2 years, 7 months ago

Exxon profits surge despite $3.4B hit from Russian exit

Associated Press  

NEW YORK — Exxon Mobil reported $5.48 billion in profits during the first quarter as oil and gas prices rose steadily, more than doubling its profits compared with the same quarter last year. Natural gas prices rose too, climbing from $3.50 per million British thermal units to about $5.60, inflating home heating bills and electricity prices. The company announced Friday …

Aramco profit hits $110 billion as Saudis seek to expand investments
2 years, 9 months ago

Aramco profit hits $110 billion as Saudis seek to expand investments

Live Mint  

DUBAI : State oil giant Saudi Aramco said Sunday its 2021 net profit more than doubled to $110 billion, a boon to the Middle East’s largest economy as it seeks to use its hefty profits for investment opportunities domestically and abroad. Aramco’s income jumped 124% in 2021 from $49 billion a year earlier, due to higher crude oil prices, stronger …

Saudi Arabia gives 4% of Aramco worth $80B to fund
2 years, 10 months ago

Saudi Arabia gives 4% of Aramco worth $80B to fund

The Hindu  

Saudi Arabia said Sunday it will transfer 4% of the stock in the state-run oil giant Aramco to a sovereign wealth fund, an infusion valued at nearly $80 billion as the kingdom tries to overhaul its energy-dependent economy. Saudi Crown Prince Mohammed bin Salman, the assertive son of King Salman, made the decision to transfer the stock, the state media …

Saudi Arabia transfers $80 billion Aramco stake to kingdom’s wealth fund
2 years, 10 months ago

Saudi Arabia transfers $80 billion Aramco stake to kingdom’s wealth fund

Hindustan Times  

Saudi Arabia transferred a stake worth about $80 billion in state oil giant Aramco to the kingdom’s wealth fund as part of plans to boost its assets under management to over $1 trillion in four years. Saudi Arabia said it will transfer 4% of its stock in the state-run oil giant Aramco to its state investment fund, a nearly $80 …

Reliance, Aramco call off $15 bln deal amid valuation differences, sources say
3 years ago

Reliance, Aramco call off $15 bln deal amid valuation differences, sources say

The Hindu  

Reliance Industries and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of the Indian conglomerate due to valuation concerns, sources with knowledge of the matter said. Aramco, the world's top oil exporter, signed a non-binding agreement to buy a 20% stake in Reliance's O2C business for $15 billion …

Saudi Aramco sees third-quarter income spike to $30.4 billion on surge in oil prices, recovery in demand
3 years, 1 month ago

Saudi Aramco sees third-quarter income spike to $30.4 billion on surge in oil prices, recovery in demand

Firstpost  

Aramco declared a dividend of $18.8 billion in the third quarter, in line with its target, which will be paid in the fourth quarter Dubai: The world’s largest oil company, Saudi Aramco, reported $30.4 billion in third-quarter net income on Sunday, bolstered by a surge in oil prices and recovery in demand as the coronavirus pandemic eases. Saudi Arabia’s majority …

Saudi Aramco closes near $2T valuation as oil prices rally
3 years, 2 months ago

Saudi Aramco closes near $2T valuation as oil prices rally

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s oil company Aramco closed on Wednesday just shy of a $2 trillion valuation the kingdom’s crown prince has long sought, buoyed by high oil prices and increased demand for energy as economies recover from last year’s pandemic lockdowns. Aramco, which produces Saudi Arabia’s oil and gas, is closely watched by energy traders and …

Oil giant Saudi Aramco sees 2020 profits drop to $49 billion
3 years, 9 months ago

Oil giant Saudi Aramco sees 2020 profits drop to $49 billion

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia’s state-backed oil giant …

Aramco may have to sell assets, borrow more to maintain Saudi dividend
4 years ago

Aramco may have to sell assets, borrow more to maintain Saudi dividend

Live Mint  

Oil giant Aramco, whose dividend remains vital to helping Saudi Arabia contain a huge deficit, may have to sell assets and borrow more to fulfil its fiscal role amid uncertainty in oil prices, market specialists said. With oil prices at $50 per barrel or above, Aramco should be able to fund the $75 billion dividend and capex from operating cash …

World’s biggest oil firm Saudi Aramco kicks off bond sale
4 years, 1 month ago

World’s biggest oil firm Saudi Aramco kicks off bond sale

Live Mint  

Saudi Aramco kicked off a jumbo bond sale Tuesday to help fund a $75 billion dividend, returning to the debt markets for the first time since April of last year. Aramco, the world’s biggest oil company, is selling tranches maturing in three, five, 10, 30 and 50 years, according to a person with knowledge of the matter. But the spreads …

Saudi Aramco plans debt market comeback with multi-tranche bond deal
4 years, 1 month ago

Saudi Aramco plans debt market comeback with multi-tranche bond deal

Live Mint  

Dubai: Saudi Aramco said on Monday it had hired banks for a multi-tranche U.S. dollar-denominated bond issuance, as the world's largest oil company seeks cash amid lower oil prices. "The backdrop is supportive," said a debt banker on the deal, citing a $1 billion Islamic bond issuance last week from Dubai Islamic Bank, which achieved record low yields. Aramco's outstanding …

Saudi Aramco profits dive in coronavirus-hit Q3
4 years, 1 month ago

Saudi Aramco profits dive in coronavirus-hit Q3

Live Mint  

Energy giant Saudi Aramco on Tuesday posted a 44.6% slump in third-quarter profit, as the coronavirus pandemic weighs heavily on the global demand for crude oil. The world's most valuable listed company said it was committed to a bumper dividend even as third quarter net profits dropped to 44.21 billion Saudi riyals, compared to $21.3 billion in the same period …

Amid Slump in Crude Due to Covid-19 Pandemic, Saudi Arabia Doubles Down on Oil to Outlast Rivals
4 years, 2 months ago

Amid Slump in Crude Due to Covid-19 Pandemic, Saudi Arabia Doubles Down on Oil to Outlast Rivals

News 18  

The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But Saudi Aramco plans to boost its production capacity so it can pump as much of the kingdom’s vast oil reserves when demand picks up …

Saudi Arabia’s financial woes mean it’s squeezing cash cow Saudi Aramco
4 years, 3 months ago

Saudi Arabia’s financial woes mean it’s squeezing cash cow Saudi Aramco

Live Mint  

The world’s biggest oil company is getting squeezed by its main shareholder, the Saudi Arabian government. “It will limit how much they can invest in things like maintaining the oil fields and developing new technologies.” Dividend Promise The government has previously leveraged Aramco’s balance sheet to bolster its own finances. Gearing could reach 30% by 2023 if crude prices remain …

Saudis Reduce Oil Pricing in Sign Demand Recovery Struggling
4 years, 3 months ago

Saudis Reduce Oil Pricing in Sign Demand Recovery Struggling

Live Mint  

Saudi Arabia cut pricing for oil sales in October, a sign the world’s biggest exporter sees fuel demand wavering amid more coronavirus flare-ups around the globe. Aramco cut Arab Light to Asia to a discount against the benchmark oil price used by the Saudis for the first time since June. “The market will interpret these numbers to have been fair,” …

Saudi Aramco suspends $10 billion China oil refinery venture
4 years, 4 months ago

Saudi Aramco suspends $10 billion China oil refinery venture

Live Mint  

Saudi Arabia’s state oil company has suspended a deal to build a $10 billion refining and petrochemicals complex in China, according to people familiar with the matter, as the company slashes spending to cope with low oil prices. Saudi Arabian Oil Co., or Aramco, decided to stop investing in the facility in China’s Northeastern province of Liaoning after negotiations with …

Premarket stocks: Saudi Aramco sees reasons for optimism despite 73% profit drop
4 years, 4 months ago

Premarket stocks: Saudi Aramco sees reasons for optimism despite 73% profit drop

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. London CNN Business — Saudi Aramco said Sunday that its net profit plunged 73.4% in the second quarter to $6.6 billion. It was the second consecutive quarter of falling earnings at the world’s top oil producer — net profit in the January-March period slumped 25%. Stay …

Saudi Aramco Profits Slump 73% on Low Oil Price as Covid-19 Undercuts Global Demand
4 years, 4 months ago

Saudi Aramco Profits Slump 73% on Low Oil Price as Covid-19 Undercuts Global Demand

News 18  

Energy giant Saudi Aramco said Sunday its net profit for the second quarter plunged a massive 73 percent due to sharply lower oil prices as the coronavirus crisis undercuts global demand. Aramco's net profit for the first half of the year also dived, by 50 percent to $23.2 billion, compared to $46.9 billion over the same period last year. Following …

Reliance Industries’ $15 billion stake sale deal with Saudi Aramco stalled: Report
4 years, 5 months ago

Reliance Industries’ $15 billion stake sale deal with Saudi Aramco stalled: Report

Live Mint  

NEW DELHI: Talks about selling a 20% stake in Reliance Industries Ltd's oil-to-chemical business to Saudi Aramco have stalled over the valuation, four sources familiar with the matter said, as the energy market has been hit by COVID-19. Aramco wants India's Reliance to review its price for the oil-to-chemical business as the global valuation of oil assets has tumbled due …

Despite major announcements, RIL stock tanks 6% over Saudi Aramco deal
4 years, 5 months ago

Despite major announcements, RIL stock tanks 6% over Saudi Aramco deal

Live Mint  

Mumbai: Shares of Reliance Industries Ltd fell 6.18% intraday on Wednesday after hitting record high at ₹1978.50 in early trade. Addressing the annual general meeting Ambani said that due to unforeseen circumstances in the energy market and the covid-19 situation, the Saudi Aramco deal has not progressed as per the original timeline. The stock was holding gains while Ambani made …

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