Friday , September 30 2022

Aramco: We are studying all funding options, including issuing bonds


SAUDI ARABIA (Reuters) – Saudi Aramco has said that he considers all the funding options, including a bond issue, and will issue any related disclosures when appropriate.
The company said in a statement on Tuesday that the Wall Street Journal report on a possible bond issue is gross.
The company is actively implementing its strategy to strengthen its investment portfolio by investing more in refining, processing, marketing and petrochemicals in particular.
This includes ongoing discussions with the Public Investment Fund on the acquisition of a possible strategic share in Saudi Industries Industries Corporation (SABIC).
In a separate statement, the company published a separate statement of the exhibition and annual exhibition of the Value Added Value Improvement Program for the Supply Sector at its fourth session between 26 and 27 November 2018 at the Dhahran International Exhibition Center in Dammam under the auspices of the Prince's Bin Saud Bin Nayef Abdul Aziz, Prince of the East Region.
The aim of the program is to increase the local content of goods and services to 70% by 2021, as well as facilitate the development of the procurement and supply system for the energy sector in the Kingdom to enjoy diversity, sustainability and competitiveness in improving reliability in the company's supply chain and improve operational costs.
Mohammed Ayed Al Shammari, Vice President of Saudi Aramco, Procurement and Supply Chain Management said: "The fourth year of its program continues to confirm its achievements and have a positive impact on the national economy and implement its programs in accordance with Saudi requirements Arabia 2030. Successful suppliers, best practice in promoting and locating local content.
Many investors from the Kingdom and many countries of the world attend the forum to explore more potential investment opportunities in the fields of energy. This year's forum will also include high level discussions with high level officials, government officials and the private sector, as well as heads of international companies specializing in services and goods, as well as presentations, workshops and seminars . "
"Locating the supply chain in Saudi Aramco is a strategic step to ensure greater integration and operation in this area, with increasing business gains and our contribution to the long-term prosperity of the Kingdom. and small and medium-sized services providers. "
Within the framework of diversification of themes and encompassing the foundations of the economy, the forum, which will include more than 3,000 participants from more than 40 countries, will include more than 50 investment opportunities to attract new investments through a number of workshops in different industrial areas. A number of lectures will focus on business performance with Saudi Aramco in particular, and Saudi Arabia as a whole. The exhibition includes an exhibition that fits with local and international companies, government sectors related to industrial investments, training centers as well as industrial cities.
SAUDI ARABIA has planned an "Adequate" program to add local value and increase diversification and long-term economic growth in order to adhere to the economic changes in the Kingdom. The program is part of the operational framework of the National Transformation Strategy, which contributes to the promotion of investment through the company's suppliers in several key areas, including: local goods and services, creating jobs for Saudis, training and development of youth development, suppliers and research and development.
The company's strategic vision is to enable the Saudi energy sector to become more active and competitive in the world through three axis: First, a goods and services settlement to 70%; Secondly, the production of direct and indirect jobs to citizens; From energy-related goods and services by 30 per cent.
In this context, the program will be a source of great prosperity and will increase the efficiency of the energy and development sector in the Kingdom. There is no "efficiency" without "efficiency" or "sufficiency" without "efficiency" This is in line with the launch of the Kingdom 2030 vision, And the 2020 National Transformation Program, as the general context in the Kingdom has become more supportive of the emulsion program orientation, which has become a factor in the enabling vision.

Source link