Aramco CEO Amin Nasser
Saudi Aramco pins its hopes on petchems
The NOC heavyweight wants to the biggest of beasts in the petrochemicals world too
Aramco’s ambition is “to be the world’s preeminent integrated energy and chemicals company”, the Saudi state-owned oil firm said in mid-July. Its completion of a $69.1bn takeover of petchems-focussed counterpart Sabic in June was a huge step towards realising that goal. It can now boast of being the fourth-largest chemicals firm in the world, as well as its premier oil company. And while internal governmental financial calculations were a motivator in transferring a chunk of Aramco cash to Sabic’s former owner, the rapidly expanding Public Investment Fund, Saudi’s de facto ruler Crown Prince Mohammed bin Salman has also seen a strategic fit in putting the two firms together since taking the
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
