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Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

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The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Aramco’s plans to produce blue hydrogen ‘remain unchanged’

Saudi Aramco is 90 percent owned by Saudi Arabia.
  • The energy giant denied reports that it has temporarily suspended plans to produce blue hydrogen.
  • It targets to produce up to 11 million tons of blue ammonia, a carrier of blue hydrogen, by 2030.

Dhahran, Saudi Arabia — The Saudi Arabian Oil Company (Saudi Aramco) denied reports that its plans for blue hydrogen were temporarily suspended.
The company confirmed in a statement today that its goal to produce up to 11 million tons of blue ammonia, a carrier of blue hydrogen, by 2030, remains unchanged, and will continue to work with potential customers and other stakeholders around the world to make real progress across the blue hydrogen value chain, SPA reported.

This includes obtaining with SABIC the world’s first independent certification for the production of blue ammonia and blue hydrogen, as well as the delivery of three shipments of blue ammonia to customers. in Asia.

In August last year, Aramco and SABIC Agro-Nutrients Company obtained the world’s first independent certifications recognizing the production of blue hydrogen and blue ammonia.

TUV Rheinland, a system testing, inspection and certification services provider based in Germany, awarded these certifications to SABIC Agri-Nutrients Company in Jubail, for its production of 37,800 tons of blue ammonia, and to Saudi Aramco Jubail Refinery Company.

SASREF, a wholly owned subsidiary of Saudi Aramco, produced 8,075 tons of blue hydrogen.