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Saudi Aramco to Maintain Investments Amid Downturn

April 6, 2009 | Lindsey Bewley in Houston

Saudi Aramco will continue to invest in new petrochemical projects, despite the economic downturn, Abdulaziz Al-Judaimi, v.p./new business development at Saudi Aramco, said in a keynote address at CMAI’s 24th annual World Petrochemical Conference, held late last month in Houston. “We need to diversify the kingdom’s economy,” Al-Judaimi says, citing Saudi Arabia’s goal of creating 1 million jobs in the next five years for its growing population. Saudi Arabia plans to use its extensive crude oil and natural gas reserves as low-cost...

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