Saudi Aramco looking for more deals and positive momentum

Saudi Aramco said it is looking for other potential deals to offer to investors and unlock capital, Chief Executive Officer Amin Nasser told a group of bankers.

"We are looking at the potential for other deals that we are currently in negotiation (about)," Nasser said during the call with them. 

The company said that they are looking for more opportunities to unlock capital expenditure.The 2021 capex (capital expenditure) guidance is 30 percent higher  year on year.

“We are also going to continue to pursue long term plans to unlock capital and maximize  shareholders returns,” said Ziad al Murshed, the newly appointed Chief Financial Officer told the bankers. 

The CEO told the bankers that the company is looking at both blue and green hydrogen but said that blue hydrogen is more advantageous as it is cheaper but they are looking at the market and planning accordingly.

"We are looking to capture a big percentage of that market, we have an advantage," Nasser said.