Saudi Aramco to allocate 3 mln bpd of oil to petrochemicals

عربي

State-owned Saudi Aramco is planning investments in the petrochemical sector, as part of its plan to diversify its portfolio, chief executive and president Amin Nasser said.

The major oil producer will allocate 2-3 million barrels per day (mbpd) of its crude oil production to petrochemicals, he added on the sidelines of the Future Investment Initiative (FII) 2018, which kicked off on Monday in Riyadh.

The new integration strategy will create added value for the company and help it overcome economic challenges.

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