Al-Falih: Saudi Arabia is not only conforming. We’ve gone significantly above our targets in order to reassure markets and bring stability. — Reuters
DUBAI: Saudi Aramco plans to retain exclusive rights to develop Saudi Arabia’s oil reserves even as the kingdom prepares a multi-billion dollar plan to open up to foreign investment.
“There is no intention whatsoever to chip away at Aramco’s exclusivity and its concession,” Saudi Energy Minister Khalid Al-Falih told reporters last Saturday when asked whether the opening to international investors would extend to upstream oil and gas assets.
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