06 May 2024
06 May 2024
Saudi Arabia’s non-oil sector accounted for over 50% of GDP for the first time in 2023, with its share rising from 47.4% in 2015 to 51.7% that year.
Oil and gas operations require significant energy input due to the intensive nature of drilling, extracting, processing, and refining. Improving the efficiency of such operations, particularly at refineries, can have a significant impact on Scope 1 and 2 emissions.
The company noted that the production ramp-up is scheduled to begin in the fourth quarter (Q4) of 2024.
The divesture is in line with the company’s strategy to monetise non-core assets and accelerate debt repayment.
The transaction will provide Azimut with additional funds to further its flagship projects.
The permit is an important component in the final approval process for the project's advancement.
Americas Gold Exploration Inc. failed to contribute to the Q1/24 cash call for ongoing project expenditures.
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