(Bloomberg) -- Saudi Arabian Oil Co. set up a division for portfolio optimization and strategic alignment as the world's biggest crude producer seeks greater access to growth markets and technologies.
The Corporate Development organization will be headed by senior vice president Abdulaziz Al-Gudaimi and will become operational on Sept. 13, Aramco said in a statement. It's a refinement of existing corporate development model and doesn't represent a fundamental organizational change, it said.
“We continue to leverage our capabilities in assessing our existing portfolio, identifying new opportunities and adapting to a rapidly evolving global landscape,” Aramco Chief Executive Officer Amin Nasser said.
| Read more |
|---|
| Saudi Aramco Suspends $10 Billion China Oil Refinery Venture |
| Aramco Restructures Money-Losing Downstream Business in 4 Units |
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
