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Page added on January 24, 2019

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Saudi Arabia looking to buy ‘billions of dollars’ of US natural gas assets

Business

From Reuters:

Saudi Aramco, the world’s top oil producer, is looking to acquire natural gas assets in the United States and is willing to spend “billions of dollars” to become a global gas player, the company’s CEO said on Tuesday.


Amin Nasser told Reuters in an interview that his company wants to increase its U.S. investments. It already owns Motiva, the biggest U.S. oil refinery.

“We have agreed to bring an additional $10 billion in the Motiva refining complex,” said the chief executive, attending the World Economic Forum in Davos, Switzerland.

“We do have appetite for additional investments in the United States. Aramco’s international gas team has been given an open platform to look at gas acquisitions along the whole supply chain. They have been given significant financial firepower — in the billions of dollars.”

Aramco’s gas expansion strategy needs $150 billion of investment over the next decade as the company plans to increase output and later become a gas exporter, Nasser said in November.


The United States Natural Gas Fund L.P. (UNG) was trading at $26.19 per share on Wednesday afternoon, down $0.46 (-1.73%). Year-to-date, UNG has gained 12.31%, versus a -1.42% rise in the benchmark S&P 500 index during the same period.

etfdailynews.com



10 Comments on "Saudi Arabia looking to buy ‘billions of dollars’ of US natural gas assets"

  1. Here we go again on Thu, 24th Jan 2019 2:07 pm 

    Gas is the future….I’m all in….

  2. CAM on Thu, 24th Jan 2019 2:22 pm 

    Could this signal that the Saudi oil fields may soon go into decline. What better escape hatch for the “House of Saud” than to become owners of multiple billion dollar businesses. When Saudi Arabia goes down hill, the wealthy Saudis will jump ship, and become international business owners continuing to rake in billions. Of course the rest of the citizens of Saudi Arabia won’t fare nearly as well.

  3. Cloggie on Thu, 24th Jan 2019 6:29 pm 

    The “house of Saud ” will become the “House of Sand ”
    That all that will be left in less than a decade after Ghawar dries up.

  4. print baby print on Fri, 25th Jan 2019 1:58 am 

    Cloggie I cant believe what are you saying. It must be identity theft again

  5. Here we go again on Fri, 25th Jan 2019 3:30 am 

    This comment forum has gone Gonzo…really don’t pay too much mind to it any longer.
    Most exchanges are insults and bragging, with opinions that don’t have meaning.
    Suppose it serves a purpose…gives some folks an outlet so they don’t go postal..
    Too much of that in the news today!

  6. twocats on Fri, 25th Jan 2019 7:59 am 

    here we go – 100% agree on the 50+ comment threads between davy, juan, makati, and mob. all those guys suck and should go.

    as for the “saudi is about to run dry” that’s just pure batshit. but why wouldn’t you take something of zero intrinsic value – “money” and trade it for something that does have value Nat Gas.

    even a child could understand that.

  7. Grow up 2Cats on Fri, 25th Jan 2019 8:13 am 

    “here we go – 100% agree on the 50+ comment threads between davy, juan, makati, and mob. all those guys suck and should go.”

  8. deadly on Fri, 25th Jan 2019 9:50 am 

    If the Saudis are pumping twelve million bpd and four are for domestic consumption, the rest is exported, then the Saudis have a daily revenue of 400 million dollars from oil export trade.

    In forty days, they’ll have 16 billion dollars. One year and thirty-five days, they’ll have 160 billion dolares.

    They can afford to buy fossil fuel assets. They’re going to be in Africa with China.

    The Saudis invest in coal too. The climate change monkey business is all bunkum and bosh to them.

    Only stupid westerners are dumb enough to be gullible to swallow the cAGW nonsense hook, line and sinker. The rest of the world doesn’t care.

    Some idiot bought a New York condo for 238 million shekels, you won’t fix stupid.

  9. More Davy Sock Puppetry on Fri, 25th Jan 2019 12:19 pm 

    Grow up 2Cats on Fri, 25th Jan 2019 8:13 am

  10. More JuanP sock puppetry on Fri, 25th Jan 2019 12:30 pm 

    More Davy Sock Puppetry on Fri, 25th Jan 2019 12:19 pm

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