Saudi Aramco, the world’s largest oil company, has signed agreements with major US companies, potentially amounting to $90 billion (RM385.74 billion). The deals were formalised through Aramco Group Co, covering collaborations across various sectors, including liquefied natural gas, fuels, chemicals, emission-reduction technologies, and artificial intelligence (AI).
The agreements were announced following US President Donald Trump’s visit to Riyadh on his first official international trip since resuming office. Trump has been advocating for Gulf states to increase their investments in the United States and purchase more American goods.
Among the 34 memorandums of understanding (MOUs) signed, key collaborations include one with Exxon Mobil Corp to evaluate an upgrade to the SAMREF refinery. Additionally, Aramco partnered with Amazon to advance digital transformation and lower-carbon initiatives, and with Nvidia Corp to develop AI infrastructure.
This week, Aramco also revealed plans to invest $3.4 billion in its Motiva refinery in Texas, which stands as the largest fuel-making facility in the US.
The series of agreements reflect Aramco’s strategy to diversify its energy portfolio and leverage advanced technologies, while also aligning with the US administration’s push for increased economic collaboration.
-Bloomberg
