Middle East Economic Survey

VOL. LIII

No 6

8-Feb-2010

SAUDI ARABIA

Saudi Aramco Eyes $120bn Investment

State-owned Saudi Aramco will spend $120bn over the next five or six years, the firms CEO Khalid al-Falih told Al-Arabiya TV last week. This would be split roughly 50:50 between downstream and upstream projects and did not include investments outside the Kingdom that are currently being investigated, including China, the US, expansions in Korea and others, Mr Falih said. In the downstream sector...