Saudi Arabia's state-run oil company has said that production will trend slightly higher this year as it detailed plans to become the world's leading energy and chemicals company by 2020.
Speaking on Tuesday, the president of Saudi Aramco, or to give it its full name, the Saudi Arabian Oil Company, said that despite the current oil market environment remaining "challenging," the company is still looking for growth opportunities and joint ventures.
President and Chief Executive Amin Hassan Nasser told journalists that the company - which recently announced it's to sell a 5 percent stake - was still looking to expand its oil operations and was also looking at new joint ventures in the U.S., India, China and Indonesia. Over the next decade, the company expects to indirectly add 500,000 jobs to the kingdom's economy, al-Nasser told reporters. Currently it employs 66,000 people .... http://www.cnbc.com
