Saudi Arabia's oil giant Aramco expresses investment interest in Vietnam

Saudi Aramco, one of the world's largest integrated energy and chemicals companies, has expressed investment interest in Vietnam, according to a report from the Government News.

Aramco President and CEO Amin Al-Nasser told Prime Minister Pham Minh Chinh at a meeting with the latter in Riyadh on October 29 that Vietnam is a potential and important market in the region.

The Aramco leader said it will continue active negotiations with Vietnam Oil and Gas Group (PVN) to explore investment opportunities in Vietnam.

Prime Minister Chinh, who is now in Riyadh to attend the 8th Future Investment Initiative Conference, welcomed Aramco's investment plan in Vietnam, firstly in oil trade.

The Vietnamese leader called on the oil giant to work with the PVN to jointly carry out concrete projects, especially in the field of oil refinery, storage and distribution in Vietnam and beyond.

He pledged to create favorable ways for foreign investors, including Aramco and other Saudi Arabian enterprises, to invest and do business efficiently and sustainably in Vietnam.

Starting with just a small group of intrepid explorers, Aramco's history goes back to the early 1930s and the sands of the Saudi Arabian desert.

In 2024, Aramco marks its ninety-first year of exploration, discovery, and innovation stemming from a long-term role as caretakers of Saudi Arabia’s vast hydrocarbon resources.

Aramco manages Saudi Arabia’s unique hydrocarbon reserves base, optimizing production and increasing long-term value.

Last year, Aramco reported total revenue of nearly $500 billion.