Saudi Aramco Stakes More than $400 Billion Over 10 Years on Ending 'Oil Addiction'

SUGAR LAND--December 13, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--Saudi Aramco, one of the biggest players in the history of the oil business, is turning away from oil--or at least acknowledging that it can no longer depend on black gold to maintain a global business empire. On Tuesday, executives said the state-owned company plans to invest more than $40 billion a year in projects over the next decade, a 25% increase from what was announced last year--with a significant chunk set aside for renewables projects, oil-to-chemicals facilities, and other new avenues for the company. Industrial Info is tracking $66 billion in active projects involving Aramco, more than $27.4 billion of which are under construction. Within this article: Details on some of Aramco's highest-valued projects under construction, including major chemical facilities, natural gas-processing facilities, and the expansion of a nation-spanning pipeline.