On 27 January, Saudi Aramco’s Chief Executive Officer Khalid al-Falih announced that the company plans to invest $30-$50 billion a year to maintain its crude oil production level and to become the world’s largest refiner.
This announcement comes at a time when many global oil giants such as ExxonMobil, Chevron, British Petroleum, and Royal Dutch Shell in fact have cut their 2015 capital expenditures and investments.
How should the announcement by Saudi Aramco be read? Anadolu News Agency from Turkey spoke with Sijbren de Jong. The whole interview can be read here.