FINANCIAL NEWS

Saudi Aramco to invest USD300b to bolster oil output

12 Oct 2016

(MENAFN) Saudi Aramco aims to invest more than USD300bn in the coming decade to bolster its position in oil and expand its gas production.

Accordingly, the energy industry is facing challenges, not only due to low oil prices, but due to slowing global investments in oil and gas projects.

In addition, the deferred investments estimated at USD1tr in oil and gas projects may lead to shortfall in supply.

The kingdom will continue to invest in its core oil gas projects and in downstream and chemicals.

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