Aramco – Latest stories from Nourish

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Saudi Aramco’s profits dropped 4.6% in Q1 amid lower sales and rising costs, showing pressure on the world’s biggest oil producer.

Stories involving Aramco

Saudi Arabia Shifts Investment Focus

Saudi Arabia’s Public Investment Fund (PIF) plans to pivot from large real estate projects like NEOM to focus on logistics, minerals, AI, and religious tourism. The move aims to improve near-term returns amid delays and underperformance of previous giga-projects, with a new strategy expected soon.

Saudi-US Strengthen Ties with New Deals

Saudi Arabia's cabinet, chaired by Crown Prince Mohammed bin Salman, highlighted recent agreements with the US across defense, AI, nuclear energy, and investment sectors. The visit aimed to deepen strategic partnerships, with a focus on economic diversification, regional stability, and technological collaboration, including a new AI partnership and significant investment commitments.

Saudi Eases Alcohol Restrictions

Saudi Arabia has expanded alcohol sales to non-diplomat foreign residents, including premium residency holders, in Riyadh, Dhahran, and Jeddah. The move marks a significant shift in the kingdom's social policies, part of Crown Prince Mohammed bin Salman's broader reforms to diversify the economy and attract foreign talent. The latest relaxations follow earlier steps allowing non-diplomats to purchase alcohol in Riyadh's diplomatic quarter.