Saudi Arabia’s King Abdullah named David O’Reilly, who built Chevron Corp. into the world’s fourth- largest publicly traded oil company, to be a board member at state-run Saudi Aramco.
O’Reilly, Chevron’s chairman and chief executive officer for a decade, will serve a three-year term on oil producer Aramco’s board, according to a statement posted on the website of the official Saudi Press Agency yesterday. King Abdullah also confirmed Khalid Al-Falih as Aramco’s president and CEO.
Saudi Aramco, the world’s largest crude exporter, completed a development plan lastyear to boost oil production capacity to more than 12 million barrels a day. Saudi Arabia, the largest producer in the Organization of Petroleum Exporting Countries, is only generating about 8.3 million barrels a day after the group agreed on production cuts in December 2008.
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