Saudi Aramco to sign $50 billion of deals with US companies, says CEO

 20 May 2017 - 8:50

Saudi Aramco to sign $50 billion of deals with US companies, says CEO

Reuters

RIYADH: National oil giant Saudi Aramco expects to sign $50 billion of deals with US companies on Saturday, part of a drive to diversify the kingdom's economy beyond oil exports, Aramco's chief executive Amin Nasser said on Saturday.

Nasser was speaking at a conference of scores of senior US and Saudi business executives, coinciding with the visit of US President Donald Trump to Riyadh.

He said 16 agreements with 11 companies would be signed, including memorandums of understanding for joint ventures. Officials said earlier that many of the agreements would flesh out previously announced plans.