Aramco Signs Deals With U.S. Companies With Potential Value of $90 Billion

Dow Jones

15 May

By Adria Calatayud

Saudi Arabia's national oil company said it signed agreements with U.S. companies with a potential value of $90 billion, covering everything from liquefied-natural-gas purchases to artificial intelligence.

Saudi Arabian Oil Co., known as Aramco, said Wednesday that it signed 34 memoranda of understanding and agreements with major companies such as Exxon Mobil, Nvidia and Amazon.com.

The deals come after a U.S.-Saudi investment forum held in Riyadh on Tuesday during President Trump's four-day visit to the Middle East.

Aramco said the preliminary deals and agreements cover collaborations and partnerships relating to its upstream and downstream activities, technology, technical services and finance.

The Saudi company reached a final agreement to buy 1.2 million tons a year of LNG for a 20-year term from NextDecade's Rio Grande LNG export project in Texas and signed a deal with Exxon to evaluate an upgrade of their Samref refinery in Saudi Arabia, it said.

Aramco also entered into a preliminary agreement with Nvidia to develop advanced industrial AI computing infrastructure and into digital-transformation deals with Amazon and Qualcomm.

Oil-field service groups SLB, Halliburton and Baker Hughes also signed deals with Aramco, the Saudi company said.

Aramco didn't break down the potential value of each deal.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

May 14, 2025 13:37 ET (17:37 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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President Trump's four-day visit to the Middle East. \n\n\n  Aramco said the preliminary deals and agreements cover collaborations and partnerships relating to its upstream and downstream activities, technology, technical services and finance. \n\n\n  The Saudi company reached a final agreement to buy 1.2 million tons a year of LNG for a 20-year term from NextDecade's Rio Grande LNG export project in Texas and signed a deal with Exxon to evaluate an upgrade of their Samref refinery in Saudi Arabia, it said. \n\n\n  Aramco also entered into a preliminary agreement with Nvidia to develop advanced industrial AI computing infrastructure and into digital-transformation deals with Amazon and Qualcomm. \n\n\n  Oil-field service groups SLB, Halliburton and Baker Hughes also signed deals with Aramco, the Saudi company said. \n\n\n  Aramco didn't break down the potential value of each deal. \n\n\n \n\n\n  Write to Adria Calatayud at adria.calatayud@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 14, 2025 13:37 ET (17:37 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}