Sector News

Saudi Aramco to keep investing in downstream sectors -CEO

March 21, 2016

Saudi Aramco Chief Executive Amin Nasser said his company will continue to invest in upstream and downstream sectors, expecting an upwards adjustment in oil prices to begin by the end of 2016.

Nasser said the Saudi oil giant is looking to expand its downstream investments in China, Malaysia, India, Vietnam and Indonesia. He was speaking at the China Development Forum in Beijing on Monday.

“The gap between supply and demand is shrinking,” Nasser said. “It is our estimate that by the end of the year, the price will start to adjust upward.”

Nasser said, however, he doubted prices would reach the higher levels of 2014 and 2013.

By Matthew Miller and Beijing Monitoring Desk

Source: Reuters

comments closed

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Food & Drink

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

How can we help you?

We're easy to reach