WSJ News Exclusive | Saudi Aramco Slows Diversification Plans Amid Industry Downturn

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Aramco, the world’s biggest oil producer, is pausing commitments to invest in natural gas and petrochemicals

DUBAI—Saudi Arabia’s state oil giant is reviewing plans to expand at home and abroad in the face of sharply lower oil prices and a heavy dividend burden it assumed as part of its recent initial public offering, according to people familiar with the matter.

Saudi Aramco is now slowing down and reviewing a $6.6 billion plan to add petrochemical output at its Motiva refinery in Texas, these people said. It is also reviewing a big natural-gas project with Sempra Energy in the same state, and pausing investments in refineries in...

 

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Environmental filth

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