Saudi Arabian Oil Co. (Saudi Aramco) is planning to expand in the United States following President Donald Trump’s pro-fossil fuel policies, chief executive Amin Nasser told Reuters.
“We are looking at new business opportunities in the US and with the tax cuts it will make it much more profitable... It is part of our strategy to grow our business in the US,” Amin Nasser said in an interview on the sidelines of the World Economic Forum in Davos on Wednesday.
The Trump administration has been “positive” towards the energy industry thus far, he added.
“The whole oil industry is benefiting from the current administration,” Nasser said.
At present, Aramco owns and operates a large refinery in Texas.
The state-owned oil giant is eyeing New York as a possible international venue for its $100 billion initial public offering (IPO), planned for the second half of this year.
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