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Regions :: Middle East :: Saudi Arabia

Aramco's Projects Unlikely to Suffer from Downturn

9:59 AM MST | November 5, 2008 | Natasha Alperowicz

Saudi Aramco says that the economic downturn is unlikely to affect the company's megaprojects. Tthe slowdown may ease currently tight construction supplies and even benefit investment plans, says Khalid G. Al-Buainain, senior v.p./refining, marketing, and international at Aramco. Speaking at a recent meeting of the Society of Petroleum Engineers, Al-Buainain said that Aramco's new crude oil increments and gas expansion projects will see "minimal" impact due to the economic turmoil. He expressed optimism that joint ventures with international...

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