Aramco chief wins energy executive of the year award

Saudi Aramco’s president and CEO, Amin Nasser. (AFP)
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Updated 13 October 2020
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Aramco chief wins energy executive of the year award

  • Amin Nasser will be officially presented with the prestigious award during the consultancy firm’s inaugural Energy Intelligence Forum

RIYADH: Saudi Aramco’s president and CEO, Amin Nasser, has been named energy executive of the year by a panel of international industry leaders.

The 60-year-old business chief was selected for the Energy Intelligence 2020 award by a committee of top executives.

Nasser will be officially presented with the prestigious award during the consultancy firm’s inaugural Energy Intelligence Forum, being held virtually on Tuesday, when he will make a speech on the role of the energy sector in addressing climate change and how companies can take advantage of opportunities to reduce emissions.

He will also participate in a panel discussion with Energy Intelligence’s CEO Alex Schindler about the company’s future strategies, energy transformation, investment in technology and infrastructure, business expansion, refining, processing and marketing, and the effects of the coronavirus disease (COVID-19) pandemic.

Dr. Abdullah Sultan, dean of research at King Fahd University of Petroleum and Minerals, said: “The award is an international recognition of Mr. Nasser’s executive leadership in the critical time the oil and gas industry is going through. It is also a reflection of the Kingdom’s reliability in energy supply and environmental commitment.

“Saudi Aramco witnessed major transformation under his leadership starting from the IPO (initial public offering) to the integration of the company to be one of the major energy and chemical suppliers in the world.”

He pointed out that the achievement was testimony to the success of the Kingdom’s education system in contributing to the development of leaders with international impact. “We are proud at King Fahd University of Petroleum and Minerals of all our graduates who are contributing to the success of the Kingdom,” Sultan added.


Closing Bell: Saudi stocks slip as Tadawul falls 1% amid broad market weakness

Updated 30 December 2025
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Closing Bell: Saudi stocks slip as Tadawul falls 1% amid broad market weakness

RIYADH: Saudi stocks fell sharply on Tuesday, with the Tadawul All Share Index closing down 108.14 points, or 1.03 percent, at 10,381.51.

The broader decline was reflected across major indices. The MSCI Tadawul 30 Index slipped 0.78 percent to 1,378.00, while Nomu, the parallel market index, fell 1 percent to 23,040.79.

Market breadth was strongly negative on the main board, with 237 stocks falling compared to just 24 gainers. Trading activity remained robust, with 164.7 million shares changing hands and a total traded value of SR3.19 billion ($850.6 million).

Among the gainers, SEDCO Capital REIT Fund led, rising 2.73 percent to SR6.77, followed by Chubb Arabia Cooperative Insurance Co., which gained 2.69 percent to SR20.20.

National Medical Care Co. added 1.72 percent to close at SR141.60, while Alyamamah Steel Industries Co. and Thimar Advertising, Public Relations and Marketing Co. advanced 1.57 percent and 1.13 percent, respectively.

Losses were led by Al Masar Al Shamil Education Co., which tumbled 8.36 percent to SR24.65. Raoom Trading Co.fell 6.75 percent to SR64.20, while Alkhaleej Training and Education Co. dropped 6.60 percent to SR18.12 and Naqi Water Co. declined 5.51 percent to SR54.00. Gulf General Cooperative Insurance Co. closed 5.44 percent lower at SR3.65.

On the announcement front, Chubb Arabia Cooperative Insurance Co. signed a multiyear insurance agreement with Saudi Electricity Co. to provide various coverages, expected to positively impact its financial results over the 2025–2026 period. The deal will run for three years and two months and is within the company’s normal course of business.

Meanwhile, Bupa Arabia for Cooperative Insurance Co. announced a one-year health insurance contract with Saudi National Bank, valued at SR330.2 million, covering the bank’s employees and their families from January 2026. Despite the sizable contract, Bupa Arabia shares fell 0.8 percent to close at SR137, weighed down by the broader market weakness.

In contrast, United Cooperative Assurance Co. revealed an extension of its engineering insurance agreement with Saudi Binladin Group for the Grand Mosque expansion in Makkah. The contract value exceeds 20 percent of the company’s gross written premiums based on its latest audited financials and is expected to support results through 2026. However, the stock came under selling pressure, ending the session down 4.51 percent at SR3.39.