ISTANBUL: Saudi Aramco, which plans what could be the world’s biggest initial public offering (IPO), will invest more than US$300bil over the next decade to maintain its spare oil-production capacity and explore for more natural gas, president and chief executive officer Amin Nasser said.
The outlook for oil supplies is “increasingly worrying,” with about US$1 trillion in investments lost during the current industry downturn and fewer new deposits being discovered, Nasser said at a conference in Istanbul.
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