Aramco sets up corporate development organisation to optimise portfolio

The organisation will be led by Senior Vice President Abdulaziz M. Al-Gudaimi and will start operations on September 13

Saudi Aramco said on Sunday it established a corporate development organisation to optimise the company's portfolio.

"Corporate Development is mandated to create value, assess existing assets and secure greater access to growth markets and technologies through portfolio optimization and strategic alignment," the Saudi oil giant company said in a statement.

The organisation will be led by Senior Vice President Abdulaziz M. Al-Gudaimi and will start operations on Sept. 13, it said.