GreenergyDaily

May. 15, 2025

1. Saudi Aramco said on Wednesday it had signed 34 preliminary deals with major U.S. companies, potentially worth up to $90 billion in a push to deepen commercial ties with the United States on the back of President Donald Trump's visit to the kingdom.

2. The announcement was made a day after Riyadh pledged $600 billion in U.S. investments.

3. The agreements underscore Saudi Arabia’s efforts to strengthen its energy partnerships and attract foreign investment as it looks to balance oil dominance with broader industrial and technological growth under Vision 2030.

4. "The U.S. is really a good place to put our investment," Aramco CEO Amin Nasser said on Tuesday at the U.S.-Saudi Investment Forum in Riyadh.

5. Aramco signed an MoU with ExxonMobil to evaluate a significant upgrade to their SAMREF refinery, with plans to expand it into an integrated petrochemical complex.

6. It also inked a non-binding agreement with Amazon Web Services to collaborate on digital transformation and lower-carbon initiatives.

7. "Our U.S.-related activities have evolved over the decades, and now include multi-disciplinary R&D, the Motiva refinery in Port Arthur, start-up investments, potential collaborations in LNG, and ongoing procurement," Nasser said in a statement.