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Saudi Aramco plans to invest $500 billion in next 10 years, says CEO Nasser

Saudi company committed to IPO, awaits best timing: Nasser

Anthony Dipaola & Yousef Gamal El-Din | Bloomberg 

Saudi Aramco aims to become a global refiner and chemical maker, seeking to profit from parts of the oil industry where demand is growing the fastest while also underpinning the kingdom’s economic diversification.

The world’s biggest oil exporter is earmarking $500 billion to invest over the next 10 years, including $160 billion for natural gas developments and $100 billion for chemicals projects, Aramco Chief Executive Officer Amin Nasser said in an interview in Dhahran, Saudi Arabia. The spending would come on top of the company’s planned purchase of a majority ...

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First Published: Mon, November 26 2018. 16:06 IST
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