Riyadh, May 15 (HS): Saudi Arabia’s oil company Aramco has entered into approximately 34 preliminary agreements worth nearly $90 billion with major American companies. These deals were announced during the U.S.-Saudi investment forum held during U.S. President Donald Trump’s Gulf trip, symbolizing the deepening economic and energy cooperation between the two countries.
Aramco’s CEO Amin Nasser stated that these agreements represent a strong step towards rapidly increasing investment in the U.S. He announced partnerships with NextDecade (LNG producers), Sempra Energy (utility firm), and ExxonMobil. Plans are underway to transform Saudi Arabia’s SAMREF refinery in collaboration with ExxonMobil into an integrated petrochemical complex.
Additionally, Aramco has signed a memorandum of understanding with Amazon Web Services (AWS) for a digital transformation and carbon reduction initiative.
Nasser said, “Our U.S. engagement has developed over decades, including investments in the Motiva refinery (Texas), collaboration in the LNG sector, and technology procurement.” He further stated that the U.S. has become a “better destination” for Saudi investment.
Aramco is not only the backbone of the Saudi economy but has now become the main engine driving the country’s industrial development, technological transformation, and foreign investment. This effort is considered a significant step towards diversification and reducing oil dependency under Crown Prince Mohammed bin Salman’s ambitious Vision 2030 plan.
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Hindusthan Samachar / Jun Sarkar
