Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has established an integrated corporate development organisation to optimise the company's portfolio.

The organisation will support rapid and effective decision-making on the company’s portfolio and corporate development activities, in an effort to strengthen the oil giant’s resilience, agility, and ability to respond to changing market dynamics, according to a press release on Sunday.  

It will be led by Senior Vice President Abdulaziz M. Al Gudaimi, who will report directly to the President & CEO, and will start operations on 13 September 2020.

“We continue to leverage our capabilities in assessing our existing portfolio, identifying new opportunities, and adapting to a rapidly evolving global landscape,” said the company’s President & CEO, Amin H. Nasser.

He continued, “The corporate development organization will focus on growth opportunities as we further sharpen and strengthen our strategic focus to optimise our portfolio and, in doing so, maximise value for our shareholders.”