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Company News

Saudi Aramco establishes corporate development organisation

FILE PHOTO: Saudi Aramco logo is pictured at the oil facility in Khurais, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov

DUBAI (Reuters) - Saudi Aramco 2222.SE said on Sunday it established a corporate development organisation to optimise the company's portfolio.

“Corporate Development is mandated to create value, assess existing assets and secure greater access to growth markets and technologies through portfolio optimization and strategic alignment,” the Saudi oil giant company said in a statement.

The organisation will be led by Senior Vice President Abdulaziz M. Al-Gudaimi and will start operations on Sept. 13, it said.

Reporting by Davide Barbuscia; Editing by Raissa Kasolowsky

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