Saudi Aramco CEO Says Company Eying U.S. Expansion

Saudi Aramco’s CEO Amin Nasser said the company was eying expansion in the United States “where President Donald Trump’s tax cuts and support for the oil industry are making business increasingly attractive,” Reuters reports.

Nasser also lauded the Trump administration as being friendly toward the oil industry.

“The Trump administration has been positive towards the energy industry. As long as what they are doing is in the interest of all and the U.S. economy is growing, we are happy,” Nasser said on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, as reported by Reuters.

Nasser, one of several high-profile Saudis in Davos for the annual WEF, is president and CEO of Saudi Aramco and also sits on the company’s board of directors. H.E. Khalid Al-Falih, Minister of Energy, Industry, and Mineral Resources, is also at the WEF meetings this week. Al-Falih said today that the OPEC effort to balance the market, which includes support from producers like Russia, has added about $25 per barrel to oil, according to the UPI.

Saudi Aramco is considering listing part of its company on the New York Stock Exchange as the company looks to go public as part of Vision 2030. “There are pros and cons for every exchange. It needs to be well analyzed,” Nasser said.

“Of course, the New York stock exchange is the best in terms of liquidity. But it is not just the question of liquidity. It is also about other rules and regulations and the ease of doing business in these markets.”