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Aramco earmarks over $100bn for downstream projects

: Wednesday, May 21 - 2014 @ 00:41

Saudi Aramco has said it would invest over $100bn in its downstream projects over the next decade, as global demand for oil rises by a quarter in the next 25 years, Reuters has reported. “Globally, these investments will exceed $100bn over the next decade alone, and that is premised on our belief in the long term sustainability of oil demand,” Khalid Al-Falih, the company’s chief executive said at a petrochemicals conference in Bahrain. “As a result of both global demographic growth and rising standards of living in the developing world we see global demand for oil growing by a quarter over the next 25 years,” he said.

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Wednesday, May 21- 2014 @ 0:41 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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