Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Saudi Arabia’s Aramco names presidents for upstream and downstream businesses

    Saudi Arabia’s Aramco names presidents for upstream and downstream businesses

    May 19, 2023
    Share
    Facebook Twitter LinkedIn WhatsApp

    Dubai — Saudi Arabian oil giant Aramco on Thursday named Nasir al-Naimi and Mohammed Al Qahtani as presidents of its upstream and downstream businesses, respectively, in a move designed to support the company’s growth plans.

    The newly created positions and appointments, which have been approved by the board, will be effective from July 1, the state oil company said.

    “We expect this decision to help drive operational and financial performance, supporting our upstream capacity growth and our downstream expansion,” Aramco President and Chief Executive Officer Amin Nasser said in a statement.

    Both executives have already been running the businesses for years.

    Al-Naimi has been executive vice president of upstream since April 2021 while Al Qahtani served as the executive vice president of downstream since September 2020.

    “The move is not a preparation for any listing,” one source with direct knowledge of the matter said.

    “It is more an elevation of their positions to help with growth planned in these two business areas,” he said.

    Bloomberg News reported on Tuesday that Aramco’s plans for another stock offering were picking up pace.

    Aramco later declined to comment on the report to Reuters.

    Aramco listed on the Saudi bourse in late 2019, raising $25.6 billion in its IPO and later sold more shares under a “greenshoe option”, to raise the total to $29.4 billion.

    The Saudi state remains Aramco’s biggest shareholder, with 90.18% of the world’s biggest oil company.

    Reporting by Hadeel Al Sayegh and Maha El Dahan; Editing by Jacqueline Wong and Emelia Sithole-Matarise – Reuters

    Follow us on twitter

    Related News

    Angola’s Block 17 partners sign license extension

    Tinubu pardons Ken Saro-Wiwa, confers national honours on Ogoni Nine

    NCDMB Executive Secretary becomes member of APPO Board

    E-book
    Resilience Exhibition

    Latest News

    LASG approves seven dedicated truck parks for Lekki Port axis

    June 13, 2025

    NCDMB Executive Secretary joins AEW 2025 amid focus on enhancing local capacity

    June 13, 2025

    AfDB to provide $184.1m for Africa’s largest solar energy and battery storage project

    June 13, 2025

    NSC seeks closer collaboration with Police to boost port enforcement

    June 13, 2025

    Can the African Energy Bank transform the continent’s refining and downstream future?

    June 13, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.