ANL 34.52 Increased By ▲ 0.67 (1.98%)
ASC 15.16 Increased By ▲ 0.26 (1.74%)
ASL 24.83 Increased By ▲ 0.32 (1.31%)
AVN 95.00 Increased By ▲ 3.86 (4.24%)
BOP 7.87 Decreased By ▼ -0.07 (-0.88%)
BYCO 10.31 Increased By ▲ 0.53 (5.42%)
DGKC 126.60 Increased By ▲ 1.85 (1.48%)
EPCL 57.16 Increased By ▲ 1.91 (3.46%)
FCCL 24.50 Increased By ▲ 0.09 (0.37%)
FFBL 27.96 Increased By ▲ 0.01 (0.04%)
FFL 16.04 Increased By ▲ 1.14 (7.65%)
HASCOL 10.02 Increased By ▲ 0.28 (2.87%)
HUBC 80.00 Increased By ▲ 0.83 (1.05%)
HUMNL 6.45 Increased By ▲ 0.21 (3.37%)
JSCL 20.41 Increased By ▲ 0.50 (2.51%)
KAPCO 40.94 Increased By ▲ 0.69 (1.71%)
KEL 3.87 Increased By ▲ 0.02 (0.52%)
LOTCHEM 17.24 Increased By ▲ 0.54 (3.23%)
MLCF 46.91 Increased By ▲ 1.17 (2.56%)
PAEL 36.17 Increased By ▲ 2.69 (8.03%)
PIBTL 10.49 Increased By ▲ 0.19 (1.84%)
POWER 9.35 Increased By ▲ 0.15 (1.63%)
PPL 85.74 Increased By ▲ 0.16 (0.19%)
PRL 25.71 Increased By ▲ 1.21 (4.94%)
PTC 9.45 No Change ▼ 0.00 (0%)
SILK 1.17 Decreased By ▼ -0.09 (-7.14%)
SNGP 39.36 Increased By ▲ 0.10 (0.25%)
TRG 159.61 Increased By ▲ 11.13 (7.5%)
UNITY 30.75 Increased By ▲ 1.12 (3.78%)
WTL 1.43 Increased By ▲ 0.23 (19.17%)
BR100 4,852 Increased By ▲ 65.72 (1.37%)
BR30 25,671 Increased By ▲ 690.82 (2.77%)
KSE100 45,186 Increased By ▲ 445.12 (0.99%)
KSE30 18,485 Increased By ▲ 152.7 (0.83%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,443
11424hr
Pakistan Cases
721,018
505024hr
Sindh
268,750
Punjab
248,438
Balochistan
20,241
Islamabad
65,700
KPK
98,301

RIYADH: Saudi Aramco's chief executive said on Thursday the company was in discussions with many partners around the world regarding potential joint ventures in gas, and that it has sold its first LNG cargo.

The state oil giant, the world's top oil producer, wants to become a major player in gas and is eyeing projects around the world to help it gain a firm foothold in international gas business, Amin Nasser said in Riyadh.

"There is a lot of potential to grow in gas ... We are currently in discussion with a lot of partners around the world for growing our international gas position," Nasser said.

"For the time being we are looking at potential JV or partnership," he said, adding that Aramco will also be looking at potentially exporting gas through both pipelines and as liquefied natural gas (LNG).

Aramco's trading arm has sold its first LNG from Singapore, Nasser said. Aramco Trading Co. has sold the LNG cargo on the spot market late last month to an Indian buyer, a source familiar with the matter told Reuters.

Aramco is pushing ahead with its conventional and unconventional gas exploration and production programme to feed its fast growing industries, as the company plans to increase its gas output and become an exporter.

The state oil giant plans to boost its gas production to 23 billion standard cubic feet (scf) a day from about 14 billion scf now.

Aramco has been looking at gas assets in Russia, Australia and Africa, Saudi Energy Minister Khalid al-Falih had said.

Nasser said a decision to list Aramco is up to the Saudi government and will be done after its acquisition of a majority stake in Saudi petrochemical maker SABIC is closed.

Aramco last year postponed until 2021, an initial public offering (IPO) aimed at raising money for a government looking to cut its budget deficit and diversify its economy beyond oil.

Aramco is buying a 70 percent stake in SABIC, the world's fourth biggest petrochemicals company, from Saudi Arabia's Public Investment Fund (PIF) in a deal worth $69.1 billion. Aramco has said the deal will close in 2020.

Copyright Reuters, 2019