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Plant(s): View 2 related plants in PECWeb
Released May 16, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Following a visit to Riyadh by U.S. President Donald Trump, Saudi Arabian Oil Company (Aramco) (Dhahran, Saudi Arabia) said Wednesday it signed more than 30 arrangements with major U.S. companies that could have a total value of around $90 billion.
"Aramco pursues an ambitious value-driven growth strategy, we believe that aligning with world-class partners supports further development of our operations, strategic diversification of our portfolio, industrial innovation and ongoing capability development within the kingdom," said Aramco President and Chief Executive Officer Amin Nasser.
In the downstream sector, a memorandum of understanding (MoU) with Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas) relates to potential upgrades at the SAMREF refinery in Saudi Arabia. The refinery, with a nameplate processing capacity of 400,000 barrels per day (BBL/d), is operated through a joint venture between Aramco and the U.S. supermajor. Industrial Info is tracking three capital projects at the SAMREF refinery, all in the early planning stages. Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refining Project and Plant databases can click here for the project reports and click here for the plant profile.
Upstream, Woodside Energy Group (NYSE:WDS) (Perth, Australia) said Aramco was interested in offtake and equity agreements from its planned Louisiana liquefied natural gas (LNG) facility. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can click here for a full list of detailed reports for projects related to Louisiana LNG. For more information, see May 15, 2025, article - U.S. LNG Moves into Overdrive with New Deals.
In April, Woodside in April made a final investment decision (FID) on the Louisiana LNG facility, which could churn out as much as 2.2 billion cubic feet of LNG by 2029.
Aramco's arrangement with Woodside, however, was non-binding.
Outside the energy sector, Aramco said it signed a memorandum of understanding (MOU) with chipmaker NVIDIA (NASDAQ:NVDA) (Santa Clara, California) to advance computing infrastructure for artificial intelligence.
The U.S. and Saudi Arabia are among the richest nations in the world, and both boast vast oil and natural gas reserves. During his first term as president, Trump pressured Riyadh to end an oil-price war with Russia or risk losing out on U.S. military funding.
Saudi Arabia and Russia are coordinating in a group dubbed OPEC+, the Organization of the Petroleum Exporting Countries and non-member state allies, to keep markets in check. The group recently opted to unwind voluntary production restraints, adding headwinds to a commodities market already pressured by Trump's uneven trade policies.
The White House made no special mention of the energy agreements. Trump used Riyadh as a platform for a policy speech on Middle East affairs, where he's worked to revive relationships with Syria and broker a nuclear agreement with oil-rich Iran, a member of OPEC.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
"Aramco pursues an ambitious value-driven growth strategy, we believe that aligning with world-class partners supports further development of our operations, strategic diversification of our portfolio, industrial innovation and ongoing capability development within the kingdom," said Aramco President and Chief Executive Officer Amin Nasser.
In the downstream sector, a memorandum of understanding (MoU) with Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas) relates to potential upgrades at the SAMREF refinery in Saudi Arabia. The refinery, with a nameplate processing capacity of 400,000 barrels per day (BBL/d), is operated through a joint venture between Aramco and the U.S. supermajor. Industrial Info is tracking three capital projects at the SAMREF refinery, all in the early planning stages. Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refining Project and Plant databases can click here for the project reports and click here for the plant profile.
Upstream, Woodside Energy Group (NYSE:WDS) (Perth, Australia) said Aramco was interested in offtake and equity agreements from its planned Louisiana liquefied natural gas (LNG) facility. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can click here for a full list of detailed reports for projects related to Louisiana LNG. For more information, see May 15, 2025, article - U.S. LNG Moves into Overdrive with New Deals.
In April, Woodside in April made a final investment decision (FID) on the Louisiana LNG facility, which could churn out as much as 2.2 billion cubic feet of LNG by 2029.
Aramco's arrangement with Woodside, however, was non-binding.
Outside the energy sector, Aramco said it signed a memorandum of understanding (MOU) with chipmaker NVIDIA (NASDAQ:NVDA) (Santa Clara, California) to advance computing infrastructure for artificial intelligence.
The U.S. and Saudi Arabia are among the richest nations in the world, and both boast vast oil and natural gas reserves. During his first term as president, Trump pressured Riyadh to end an oil-price war with Russia or risk losing out on U.S. military funding.
Saudi Arabia and Russia are coordinating in a group dubbed OPEC+, the Organization of the Petroleum Exporting Countries and non-member state allies, to keep markets in check. The group recently opted to unwind voluntary production restraints, adding headwinds to a commodities market already pressured by Trump's uneven trade policies.
The White House made no special mention of the energy agreements. Trump used Riyadh as a platform for a policy speech on Middle East affairs, where he's worked to revive relationships with Syria and broker a nuclear agreement with oil-rich Iran, a member of OPEC.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
