Saudi Aramco to invest US$120 bln over next 6 years in oil and petrochemicals sectors

09-Feb-10

State-owned Saudi Aramco plans to invest approximately US$120 bln over the next 5-6 years in developing projects in the oil and petrochemicals sectors. With completion of several refinery expansions, the state owned company is now working to meet the country's gas demands as it moves downstream into production of petrochemicals. Half of the amount will be invested in the oil sector, and the other half will be for the development of petrochemical projects and foreign investments.