Saudi Aramco lifts spending plans to $414 bln over next decade

Saudi Aramco lifts spending plans to $414 bln over next decade:

"Saudi Aramco plans to raise its spending to $414 billion over the next 10 years, including on infrastructure and drilling, as the state oil giant moves into new businesses, executives said.

The spending plan is higher than Aramco’s projection last year of around $334 billion by 2025, as the oil producer has been expanding its businesses, the company’s chief executive Amin Nasser said on Tuesday.

“We are into so many sectors now,” Nasser told reporters on the sidelines of an industry conference aimed at promoting the kingdom’s industrial base and the manufacture of a bigger share of products domestically."



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