Saudi Aramco private investment plan voluntary, not state imposed, says CEO
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The Business Standard
THURSDAY, MAY 19, 2022
THURSDAY, MAY 19, 2022
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Saudi Aramco private investment plan voluntary, not state imposed, says CEO

Global Economy

Reuters
31 March, 2021, 06:05 pm
Last modified: 31 March, 2021, 06:09 pm

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Saudi Aramco private investment plan voluntary, not state imposed, says CEO

"This is a voluntary programme. It's on the private sector to bring these projects, to ask for incentives," Aramco Chief Executive Amin Nasser said

Reuters
31 March, 2021, 06:05 pm
Last modified: 31 March, 2021, 06:09 pm
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Reuters/Maxim Shemetov
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Reuters/Maxim Shemetov

Saudi Aramco said on Wednesday the government had no plans to impose private partnerships on the oil giant, after it launched a programme to support private investment in the kingdom as part of Saudi Arabia's diversification push.

"This is a voluntary programme. It's on the private sector to bring these projects, to ask for incentives," Aramco Chief Executive Amin Nasser told Reuters in an interview about the newly launched Shareek (Partner) programme.

He promised Aramco's shareholders, who include a small minority of private investors since the company was listed, that the firm would set prudent capital allocation and cost criteria.

World+Biz

Saudi Aramco

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