Saudi Arabian state-run oil company Saudi Aramco is planning to invest USD $18bn in the next five years to expand its operations in the Americas. The plans were revealed by Motiva Enterprises, a wholly-owned affiliate of Saudi Aramco, headquartered in Houston, Texas.
The company said that in the next five years, it will explore opportunities to boost refining capacity, foray into chemicals and expand its commercial operations, marketing and branded presence.
“Our employees have embraced the changing culture, which has turned Motiva into a more agile organization. We have given employees added responsibility, but at the same time empowered them to make decisions and be accountable for our results,” said Motiva President and CEO Dan Romasko.