Saudi Arabian Oil Gets Procurement Agreements Worth $6 Billion
By Pierre Bertrand
Saudi Arabian Oil Co. said that it has signed $6 billion worth of procurement agreements with suppliers in Saudi Arabia.
The Saudi oil and gas company, known as Aramco, said Tuesday that it signed 40 such agreements to fortify the company's domestic supply chain and reliability.
The agreements relate to the supply of a range of products, including instrumentation and electrical and drilling equipment, Aramco said.
The agreements will also help contribute to the development of the Middle Eastern Kingdom's energy-services sector, Aramco said.
It added that it also signed two memorandums of understanding with strategic partners to work on localization and supply-chain development.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
February 27, 2024 09:28 ET (14:28 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing
-
Going Into Earnings, Is Nvidia Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Arista Stock a Buy, a Sell, or Fairly Valued?
-
A Cheap Dividend Aristocrat to Buy Before It Bounces Back