Oil and Gas

Saudi Aramco CEO says to sign $50 billion of deals with U.S. companies

RIYADH, May 20 (Reuters) - National oil giant Saudi Aramco expects to sign $50 billion of deals with U.S. companies on Saturday, part of a drive to diversify the kingdom’s economy beyond oil exports, Aramco’s chief executive Amin Nasser said on Saturday.

Nasser was speaking at a conference of scores of senior U.S. and Saudi business executives, coinciding with the visit of U.S. President Donald Trump to Riyadh.

He said 16 agreements with 11 companies would be signed, including memorandums of understanding for joint ventures. Officials said earlier that many of the agreements would flesh out previously announced plans. (Reporting by Reem Shamseddine and Katie Paul; Writing by Andrew Torchia)