Aramco Delays Projects to Preserve Dividend
The world’s largest oil and gas company, Saudi Aramco, has delayed its multi-billion-dollar petrochemical and liquified natural gas (LNG) projects to maintain cash flow for the paying of dividends.
The world’s largest oil and gas company, Saudi Aramco, has delayed its multi-billion-dollar petrochemical and liquified natural gas (LNG) projects to maintain cash flow for the paying of dividends.
Petrojet was assigned to assist Baker Hughes in manufacturing and supplying seven deep-water equipment of 700 tons for a liquefied natural gas (LNG) project in Mozambique.
Aramco sees the agreement as a step in its long-term strategy to become a leading global LNG player.
Saudi Aramco, Russian sovereign wealth fund RDIF, and Japan’s Mitsui are in talks to acquire stakes in Novatek’s Arctic LNG 2 project.