(Bloomberg) — Oil giant Saudi Aramco signed agreements with major U.S. companies potentially totaling about $90 billion.
The company signed 34 memorandums of understanding and pacts through its Aramco Group Co., covering collaborations and partnerships on liquefied natural gas, fuels, chemicals, emission-reduction technologies and artificial intelligence, among other fields, Aramco said in a statement.
The world’s largest oil company announced the agreements following U.S. President Donald Trump’s stop in Riyadh on his first scheduled trip abroad since returning to power. The American president wants the energy-rich Gulf states to ramp up investments in the U.S. and buy more of its goods.
MoUs were signed with Exxon Mobil Corp. to evaluate an upgrade to the SAMREF refinery, with Amazon on digital transformation and lower-carbon initiatives and Nvidia Corp. on AI infrastructure, Aramco said.
Aramco this week said it planned to spend $3.4 billion on its Motiva refinery in Texas, the largest fuelmaking plant in the U.S.
