Saudi Aramco to cut capital spend by $8bn

Saudi Aramco is planning on cutting its capital spending by up to nearly $8bn compared to last year after its income slid due to factors including lower oil prices.

The company expects capital spending for 2020 to be $25bn-$30bn compared to $32.8bn last year and $35.1bn in 2018.

☛ Want to stay up to date with the news? Sign up to our daily bulletin.

To read the rest of this article you need to sign in:

Membership ID / Email Address

Password

Don't have an account? Register here

JOIN CIPS

Not a CIPS member? Why not join CIPS to access a full range of benefits, including:

Access all areas of the CIPS Knowledge on-line library including tools and templates and Supply Management stories.
Enhance your network and get connected to a global community of 120,000 in 150 countries.
Stay in touch and up to date through member only events and branch meetings.
Annual subscription to Supply Management magazine.
10 per cent discount on all training courses, workshops, seminars and conferences.
Up to 15 per cent discount on books from the CIPS book store, including course books and a range of further reading text books.

And much more. Click here to join >

Saudi Aramco to cut capital spend by $8bn

SIGN UP

JOIN CIPS