Saudi Aramco agreed to buy an additional stake in PetroRabigh from its joint venture partner Sumitomo Chemical Co. for $702 million. PetroRabigh shares rose the most since 2021.
Aramco maintained its quarterly dividend at $31 billion despite lower profit as the payout becomes increasingly crucial for Saudi Arabia’s government in its multitrillion-dollar economic makeover plan.
Saudi Aramco agreed to buy a stake in MidOcean Energy for $500 million, its first investment in liquefied natural gas as the company seeks to diversify beyond its core oil business