Bigger boss: Amin Nasser will soon preside over a vast petchems branch of the state energy giant
Saudi Aramco set to spread its wings
The firm’s industrial slate will be broadened and its global reach extended when the Sabic deal is complete
Saudi Aramco's acquisition of a 70pc stake in Sabic, the kingdom's giant petrochemicals group, for $69bn has industrial logic in that it gives the upstream purchaser a massive downstream hedge against oil price volatility. But no less interesting is what Saudi Arabia's Public Investment Fund (PIF), the seller and current holder of that 70pc share, intends to do with the money. Officially, the line is that it gives the PIF, headed by crown prince Mohammad bin Salman (MbS), funds to diversify the Saudi economy to make it less dependent on oil in line with his much-touted Vision 2030. That means two things. First, focusing domestically on sectors such as tourism, entertainment and the developme
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
