Tuesday 10 May 2016

Saudi Aramco prepares for global expansion as IPO looms | Reuters

Saudi Aramco prepares for global expansion as IPO looms | Reuters:

"Saudi Arabia's state-owned oil giant Aramco is seeking to expand globally via joint ventures overseas as it prepares for a partial privatization pushed by a government intent on diversifying the economy.

The company is looking at opportunities in the United States, India, Indonesia, Vietnam and China, chief executive Amin Nasser told reporters during a rare media visit to the company's Dhahran headquarters.

"We are looking at the current market status that, even though challenging, is an excellent opportunity for growth," Nasser said, adding that he believed an extra 1.2 million barrels per day would be added to global oil demand this year."



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