Saudi Arabia

Saudi oil giant Aramco pumps up VC arm amid oil price cuts

  • Aramco's US$4bn VC arm boost, after announcing oil price cuts, aligns with Saudi's diversification plans

  • Consecutive selling price cuts reflect Asian refiners demanding competitive pricing relative to other suppliers

  • Long-term challenges loom for Aramco including the energy transition, geopolitics and Asian reliance

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January 24th, 2024
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