Aramco CEO Amin Nasser
Saudi Aramco pins its hopes on petchems
The NOC heavyweight wants to the biggest of beasts in the petrochemicals world too
Aramco’s ambition is “to be the world’s preeminent integrated energy and chemicals company”, the Saudi state-owned oil firm said in mid-July. Its completion of a $69.1bn takeover of petchems-focussed counterpart Sabic in June was a huge step towards realising that goal. It can now boast of being the fourth-largest chemicals firm in the world, as well as its premier oil company. And while internal governmental financial calculations were a motivator in transferring a chunk of Aramco cash to Sabic’s former owner, the rapidly expanding Public Investment Fund, Saudi’s de facto ruler Crown Prince Mohammed bin Salman has also seen a strategic fit in putting the two firms together since taking the
Also in this section
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
