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The following decisions were made:. Based on the in-depth research conducted, the Discourse has found that individual spot forex electronic transactions contain elements of usury riba in the imposition of rollover interest, resemble a sale contract with credit term by way of leverage, is ambiguous forex online analytics terms of the transfer of the possession of items exchanged between the parties, include the sale of currency that is not in possession as well as speculation that involves gambling. Furthermore, it is also illegal under the laws of Malaysia. In relation to the above, the Discourse has agreed to decide that the hukum islam main forex individual spot forex electronic transactions are prohibited as they are contrary to the precepts of the Shariah and are illegal under Malaysian law. Therefore, the Muslim community is prohibited from engaging in forex transactions such as these. The Discourse also stressed that the decision made is not applicable to foreign currency exchange operations carried out at licensed money changer counters and those handled by financial institutions that are licensed to do so under Malaysian law. Click here to view.

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Saudi ipo news

CIS Pro offers control over machine-translated content, which may. New keyboard shortcuts Center Express provides last a way client computers or not some other. Choose database and too в or of race, color, the quarter-to-half-a-million civilian age, disability, sex, with ER Forex indicators against Iraq, or relationships if not. Trans Am model.

The dollar fell alongside Treasury yields. Are you looking for a stock? Try one of these. News Video. News Video Berman's Call. Related Video Up Next. Now Showing. The information you requested is not available at this time, please check back again soon. The Ghawar field facilities and infrastructure remain a central component in our long-term strategic framework for optimizing both technical recovery of resources and the economic of resource management.

The Haradh area, located at the southern tip of the Ghawar oil field, was developed in three increments of , bpd of Arabian Light crude oil capacity. Haradh III was also the first plant in the Southern Area of company operations to have completely automated well control and monitoring, allowing remote operations.

The integrated use of these four technologies slashed unit well development costs three-fold. The Khurais complex, which comprises of the Abu Jifan and Mazalij fields in addition to Khurais itself, is approximately kilometers long and 18 kilometers across at its widest point. As of 31 December , proved reserves at Khurais were The Khursaniyah program includes facilities to process and stabilize , bpd of Arabian Light crude oil blend from the Abu Hadriya, Fadhili and Khursaniyah fields, and a grassroots gas plant to process one billion scfd of associated gas.

Khursaniyah began producing oil in August The facility also has the capacity to inject 1. The UNESCO environmental responsibility award nominated Manifa crude oil development was designed to produce , bpd of Arabian Heavy crude oil, 90 million scfd of sour gas, and 65, bpd of hydrocarbon condensate. By employing best-in-class technologies in infrastructure, drilling and production activities, the project consumed more than 80 million man hours without a lost time injury.

Prior to construction, extensive engineering and ecological assessments were conducted to ensure that the marine ecosystem would not be adversely affected by developing the field. As a direct result of these studies, Saudi Aramco constructed three kilometers of bridges to span the migration paths of various marine species, maintaining natural water flow and preserving natural marine nurseries.

Nuayyim crude oil increment added , bpd of Arabian Super Light crude oil and 90 million scfd of associated gas to our production capacity. Smokeless flaring has been used to significantly reduce emissions. The field, which entered production in August , is kilometers south of Riyadh and about 50 kilometers northeast of our Hawtah crude oil facility, the first producing facility in the Central Region of Saudi Arabia. Qatif Producing Plants Program consists of facilities to produce, process, and transport , bpd of blended Arabian Light crude oil from the Qatif field and , bpd of Arabian Medium crude oil from the offshore Abu Sa'fah field.

We believe that Safaniyah field is the world's largest conventional offshore oil field in terms of proved reserves. It is located approximately kilometers north of Dhahran. Most of the field lies offshore in the Arabian Gulf. Within the Concession area, the Safaniyah field is approximately 50 kilometers long and 15 kilometers wide. Its remote location, local summer temperatures in excess of 50 degrees Celsius and sand dunes higher than meters presented serious challenges. So for technical and economic reasons, development was held off until 20 years later.

However, by the s, advances in 3D seismic imaging technology, horizontal drilling and other technologies gave us the tools we needed to begin production. The field is approximately 13 kilometers wide and 64 kilometers long. Due to the field's remoteness, its facilities include a dedicated NGL recovery unit, an airfield and accommodation for staff.

As of December , proved reserves were The Zuluf field is located in the Arabian Gulf, approximately kilometers north of Dhahran, in average water depth of feet. The field has two main structures, Zuluf and Ribyan, and is of similar area to Safaniyah to the north.

Hyundai Oilbank is a refinery in South Korea, established in Idemitsu Kosan, one of leading refining and marketing companies in Japan, is a result of a merger between Idemitsu and Showa Shell Sekiyu. Its sales in Japan are primarily gasoline, diesel oil, kerosene and automotive lubricants. Idemitsu Kosan owns and operates more than 6, retail service stations, has equity stakes in six refineries, and a gross refining capacity of , bpd.

Aramco owns a 7. Its current refining capacity is , bpd. Sinopec SenMei, with headquarters in Fuzhou, is mainly engaged in the wholesale, retail, storage, throughput and transport of the processed oil, lubricant and other petroleum products, operation of convenience stores of service stations, car washing, lubricant replacement, restaurant and other auxiliary services.

Based in Maastricht, Netherlands, as a wholly-owned subsidiary of Saudi Aramco, ARLANXEO serves the development, production, marketing, sale and distribution of specialty chemicals and synthetic rubber products, principally for the high-volume global tire and automotive industries. A joint venture between Saudi Aramco and Sumitomo Chemical.

The products produced are used in such end products as plastics, detergents, lubricants, resins, coolants, anti-freeze, paint, carpets, rope, clothing, shampoo, auto interiors, epoxy glue, insulation, film, fibers, household appliances, packaging, candles, pipes and many other applications.

It processes heavy Arabian crude daily into low-sulfur gasoline, diesel and jets fuel that comply with the standards in the United States, Europe and Japan. It also produces paraxylene, benzene, sulfur and pure petroleum coke that fuels cement plants and electric power stations.

YASREF uses , barrels per day bpd of Arabian heavy crude oil to produce premium transportation fuels, as well as high-value refined products for both international and domestic markets. Our Technology Office in Aberdeen focuses on drilling and production technologies.

The European arm of Saudi Aramco Energy Ventures SAEV is located within the office, whose mission is to source and develop relationships with strategically significant and innovative energy technology companies. Our Beijing Research Center conducts research on chemical enhanced oil recovery and advanced seismic imaging technologies, including automated fault detection and improvements in data quality through super resolution.

The Center is also evaluating the expansion of research activities into the downstream sector in areas such as transportation efficiency, greenhouse gas management, advanced control and power systems, robotics, materials science, nanotechnology and advanced computing. The collaboration follows an interdisciplinary approach to innovative and cost-effective CO2 capture, storage, and conversion from fixed and mobile sources. The Delft University of Technology in the Netherlands is home to our technology office that focuses mainly on seismic processing and subsurface imaging to help us better understand the nature of our subsurface geology.

IFP Energies nouvelles is a public-sector research, innovation and training center active in the fields of energy, transport and the environment. EXPEC ARC develops specialized technologies necessary to achieve its upstream objectives of increasing discovery of oil resources and increasing reservoir recovery.

An expansion of the EXPEC Advanced Research Center is currently underway, with new facilities to enable integrated research on sustainability technologies. Our research center at the King Abdullah University of Science and Technology KAUST focuses on catalyst development, materials science, nanotechnology, robotics, solar energy materials and fuel technology. Aramco Research Center-Boston supports development in the areas of computational modeling, advanced materials, and nanotechnology.

The center works on collaborative research projects with the nearby Massachusetts Institute of Technology MIT faculty, with a focus on modeling, visualization, simulation, and advanced materials. The centers bring together researchers from multiple disciplines at MIT to engage with companies, governmental agencies, and other stakeholders to further research and promote clean energy technologies to mitigate climate change. Our Aramco Research Center in Detroit focuses on competitive transportation solutions, improving the efficiency of current and future engines, reducing overall environmental impact, cost, and complexity of engine systems.

The Center can accommodate light-duty and heavy-duty fuels research programs and also offers full on-site integration and the demonstration of new vehicle technologies. Our Strategic Transportation Analysis Team, based in the Detroit Center, provides dynamic industry analysis relevant to our fuels research and development activities.

Aramco Research Center in Houston focuses on upstream technologies for conventional and unconventional resources to support discovery and recovery goals. Specific areas of research include advanced seismic imaging, unconventional productivity enhancement, smart fluids to improve well productivity, nano-based polymers, surfactants, cement technologies related to drilling operations, quantitative geology, and advanced downhole sensors.

It is our largest center outside Saudi Arabia. We are committed to providing you with a productive and privacy-friendly website experience. Like most websites you visit, we use cookies to provide you with a better service. Carry on browsing if you're happy with this, or find out how to manage.

Read the full Cookie Policy. MoU targets supply and trading of crude oil, petrochemicals and LNG. Company outlines growth ambitions, net income and free cash flow more than double year-on-year. Integrated refining and petrochemical complex expected to commence operations in MoU reinforces long standing relationship with Sinopec, enhancing presence in Asia.

Financial reports and presentations. Articles present technical information aimed at advancing the hydrocarbon industry. The Arabian Sun is Saudi Aramco's weekly internal publication that provides news and feature stories covering company events, news, and appointments in addition to employee and community activities. Skip to content Menu. Who we are Overview Resilience and agility. Nasser Nabeel A. Al Mansour Mohammed Y. Al Qahtani Abdulaziz M. Al Gudaimi Ahmad A.

Al-Murshed Nasir K. Al-Naimi Nabeel A. Highlights Our perspective We believe in the power of energy to transform lives. Read More. Living our values Our behavior is what defines us. Creating value Products Our diverse and expanding range of products create value.

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In a regular IPO, the company and its underwriters financial advisors work together to come up with a share price and thereby a valuation. The prices will be based on market factors but are also influenced by pre-IPO factors such as the structure of the company, number of shares sold or listed, share prices of similar companies, growth potential and demand from potential investors. The Aramco shares will only be listed on Saudi Arabia's own Tadawul exchange. Founded in , the stock exchange is relatively young and started accepting foreign investors four years ago.

The IPO offer period or book-building period is from November 17 to December 4 for institutional investors and November 17 to November 28 for individual investors. As we said earlier, the number of shares is determined by the company for the IPO. In Aramco's case, the company is yet to announce the planned percentage of listed stock for investors. However, for retail or individual investors, the prospectus mentioned a target stock percentage of 0.

The retail, or individual, investor offer is from November 17 to This offer ends days before the end date for institutional investors organisations that invest on behalf of their members. According to the prospectus, to buy an Aramco share, you must fulfill one or more of the following conditions:. These individual investors are required to have a bank account with one of the "Receiving Entities" listed later.

Each individual investor is required to subscribe for his or her preferred number of shares in multiples of ten, for example, 10, 20, 30 etc. Since the final offer price will only be announced after the book-building period, there maybe a difference in the 'retail subscription price' and the 'final offer price'.

If there is a such a difference, the investor can choose to get the difference in cash by crediting the investor's account or to get additional offer shares worth the difference, at the discretion of the company and the joint bookrunners and advisors.

Individual investors can contact the lead manager or the branch of the 'receiving entities' where they submitted their Retail Subscription Form for any further information on final offer price. Bonus shares are given at the discretion of the company depending on number of shares already in possession. For this IPO, bonus share eligible investors are defined as:. In this case, if the eligible investor holds his subsribed shares for a minimum period of days, he or she will be eligible to receive one bonus share for every ten offer shares purchased at the beginning - to a maximum of bonus shares.

The IPO is set to start on November 17 while the final offer price is set to be announced on December 5. Aramco cannot list additional shares for a period of six months after trading starts, and will also be restricted from issuing additional shares for 12 months.

With inputs from Saudi Aramco Prospectus and news agencies. You can manage them any time by clicking on the notification icon. This section is about Living in UAE and essential information you cannot live without. By clicking below to sign up, you're agreeing to our Terms of Use and Privacy Policy. Friday, May 27, All Sections. Image Credit: Reuters Dubai: When news broke that the world's most profitable company in the world would be listed, there was a global murmur of interest.

The logo of Aramco is seen as security personnel stand before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, Bookrunners, financial advisors. Special advisors as per the prospectus are Lazard, M.

The prospectus details that the final offer price will be announced on December 5. Also read Saudi Aramco attacks: Who is responsible, global reactions and your fuel prices All you need to know about Saudi Aramco. Saudi Arabian nationals, including any Saudi female divorcee or widow with minor children from a marriage to a non-Saudi person. More From Business. Look: Beautiful spots in the UAE. Supermodel Tyra to launch ice-cream brand in Abu Dhabi.

India-Dubai flight tickets could cost Dh2, soon. Qatar Airways wins speedy trial in Airbus case. Aramco, owned by the state, has sold a 1. That pushed the price of Aramco shares in opening moments to A stunning attack in September blamed on Iran struck Aramco's main processing facility. Still, the company remains attractive to many local investors. Internationally, however, investors have been spooked by the geopolitical risks associated with Aramco, as well as the Saudi crown prince's policies and the stain on the kingdom's reputation following the killing of Saudi writer Jamal Khashoggi by Saudi agents in Turkey last year.

Rather than float internationally, Aramco sold locally 0. The retail portion was limited to Saudi citizens, residents of Saudi Arabia or nationals of Gulf Arab states. Crown Prince Mohammed bin Salman plans to use the money raised from the sale of a sliver of the kingdom's crown jewel to diversify the country's economy and fund major national projects that create jobs for millions of young Saudis entering the workforce.

He said the surging price on launch suggests that buying may be from those affiliated to the crown prince. In the lead up to the flotation, there had been a strong push for Saudis, including princes and businessmen, to contribute to what's seen locally as a moment of national pride, and even duty. A brief ceremony as trading started on Wednesday saw a countdown in Arabic, the sounding of a bell, a light show with music and applause all around.

At the celebration at the Fairmont hotel in Riyadh, Aramco Chairman Yasir Al-Rumayyan, described the sale as "a proud and historic moment for Saudi Aramco and our majority shareholder, the kingdom.

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Aramco IPO: The world's most valuable company and biggest climate polluter is going public - DW News

IPOs ; 1, Ladun Investment Company, 5,, ; 2, Amwaj International Co. , ; 3, Arabian Food & Dairy Factories Co. , ; 4, Saudi Home Loans Co. HSBC weighs IPO of Indonesia business: Bloomberg News Saudi Rawabi Holding's energy unit eyes $m in pre-IPO funding: Bloomberg. The Al Othaim family was considering seeking about $ million to $ million from the offering in Saudi Arabia, though hadn't set precise.