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 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
