Is Aramco Shopping For U.S. Shale?

21 Dec 2017   Saudi Arabia, USA

Saudi Aramco has held early talks to buy a stake in a U.S. company and has inquired about potentially acquiring assets in the two biggest U.S. oil and gas shale basins, the Permian and the Eagle Ford, The Wall Street Journal reported on Wednesday, citing people familiar with the matter. While the Saudi state-held oil giant owns refineries throughout the world—including the biggest U.S. refinery, the 600,000-bpd Port Arthur via its now 100-percent held unit Motiva—Aramco is not producing oil or gas outside of Saudi Arabia. A possible deal to buy oil and gas assets in the U.S. would be a huge moment for Saudi Arabia, and for the U.S. According to WSJ’s sources, Aramco has held initial talks to either buy a stake in Houston-based liquefied natural gas (LNG) developer Tellurian, or to buy some of its gas in the future. The Saudis have also talked to other […]

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