Saudi Aramco Signs 34 MoUs, Agreements With US Companies

MT Newswires Live

May 14

Saudi Aramco said Wednesday it has signed 34 memoranda of understanding and agreements worth potentially about $90 billion with US companies via its Aramco Group Companies.

The Saudi Arabian oil company signed downstream MoUs and agreements with Honeywell's (HON) Honeywell UOP, Motiva, NewMarket's (NEU) Afton Chemical and ExonMobil (XOM). It signed upstream agreements with Sempra's (SRE) infrastructure unit, Woodside Energy (WDS) and NextDecade (NEXT).

Aramco signed technology and innovation MoUs and agreements with Amazon (AMZN) and its AWS unit, Nvidia (NVDA) and Qualcomm (QCOM). It signed technical services MoUs with SLB (SLB), Baker Hughes (BKR), McDermott, Halliburton (HAL), Nabors (NBR), Helmerich & Payne (HP), Valaris (VAL), NESR (NESR), Weatherford (WFRD), Air Products and Chemicals (APD), KBR (KBR), Flowserve (FLS), NOV (NOV), Emerson (EMR), GE Vernova (GEV) and Honeywell.

It signed a strategy and corporate development MoU with Guardian Glass, while its subsidiary, Wisayah, reached agreements with PIMCO, State Street (STT) and Wellington. Lastly, it signed agreements for short-term cash investments via a unified investment fund with BlackRock (BLK), Goldman Sachs (GS), Morgan Stanley (MS) and PIMCO.

Price: 217.14, Change: -1.08, Percent Change: -0.49

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