Aramco earmarks over $100bn for downstream projects

May 21, 2014 12:41 am

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.