saudi aramco signs energy deals worth nearly 45 bln
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Saudi Aramco signs energy deals worth nearly $4.5 bln

Arab Today, arab today

Arab Today, arab today Saudi Aramco signs energy deals worth nearly $4.5 bln

Amin al-Nasser, Chief Executive of state oil company Saudi Aramco
Riyadh - Arab Today

Saudi Aramco on Thursday signed agreements worth nearly $4.5 billion with multinational oil and gas contractors, in what the company dubbed as an effort to diversify the economy.

The deals were signed with companies including Spain's Tecnicas Reunidas, Italy's Saipem, China Petroleum Pipeline and Abu Dhabi's National Petroleum Construction.

The investments "reflect our concerted effort... to diversify our economy, promote local manufacturing, support a sustainable environment and strengthen our business and investment climate", Aramco's chief executive Amin Nasser was quoted as saying in a statement.

Saudi Arabia last year announced plans to sell under five percent of Aramco, the kingdom's crown jewel, in what is expected to be the world's largest ever initial public offering.

The plan forms the cornerstone of a reform programme envisaged by Crown Prince Mohammed bin Salman to wean the economy off its reliance on oil.

It could generate much-needed revenue after the country lost hundreds of billions of dollars since crude prices slumped in mid-2014, leading to huge budget deficits and withdrawals from strategic reserves.

Analysts, however, have voiced misgivings following recent media reports that the flotation could be shelved amid concerns over its feasibility.

Nasser last month shot down the reports, saying the IPO will happen as scheduled in the second half of 2018.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi aramco signs energy deals worth nearly 45 bln saudi aramco signs energy deals worth nearly 45 bln

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi aramco signs energy deals worth nearly 45 bln saudi aramco signs energy deals worth nearly 45 bln

 



GMT 15:46 2018 Wednesday ,12 December

Festive Fashion by Dubai-based designer ASMARAÏA

GMT 09:00 2018 Wednesday ,12 December

May tours Europe in desperate bid to save Brexit deal

GMT 13:29 2018 Friday ,14 December

Turkey targets military over alleged Gulen links

GMT 09:12 2018 Wednesday ,12 December

Ford trains 1,600 motorists in Mideast, Africa in 2018

GMT 10:03 2018 Monday ,10 December

23 Palestinians arrested in West Bank

GMT 09:47 2018 Monday ,10 December

Russian ex-policeman convicted over 56 murders

GMT 19:01 2018 Thursday ,04 October

LEAD S. Korean firms offer aid for quake-hit Indonesia

GMT 11:02 2018 Tuesday ,11 December

ASE opens trading on lower note

GMT 14:08 2018 Friday ,14 December

Bank of Russia raises key rate

GMT 17:37 2017 Thursday ,04 May

Heba Rosas reveals foods that improve mood

GMT 05:35 2017 Thursday ,23 March

ECB: Protectionism may raise trade deficits

GMT 02:48 2017 Thursday ,23 November

tour guide sheds light on forest tourism

GMT 05:08 2017 Thursday ,04 May

Rising US oil production knocks OPEC off course

GMT 06:32 2017 Wednesday ,19 April

Volkswagen plans all-electric car for China next year

GMT 08:47 2015 Saturday ,31 October

New York braces for $2bn bumper autumn art sales
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday