Aramco lifts spending plans to US$414bil over next decade

Expanding and diversifying: Nasser says the projection is higher than last year’s US334bil due to business expansion. — Reuters

DAMMAM: Saudi Aramco plans to raise its spending to US$414bil (RM1.684 trillion) over the next 10 years, including on infrastructure and drilling, as the state oil giant moves into new businesses, executives said.

The spending plan is higher than Aramco’s projection last year of around US$334bil by 2025 as the oil producer has been expanding its businesses, the company’s chief executive Amin Nasser said yesterday.