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Saudi Aramco announced the signing of 17 preliminary deals with various US companies, with a potential combined value exceeding $30bn. These non-binding MoUs and agreements cover multiple sectors, aiming to expand Aramco’s strategic growth objectives and strengthen its ties with the US industry. Key areas of focus include LNG, advanced materials manufacturing, procurement of materials and services, and financial services. The deals also involve major US suppliers like Baker Hughes and Halliburton, as well as financial firms such as Blackstone and JPMorgan. This new set of agreements builds on 34 previous MoUs signed in May, which had a potential value of about $90bn, bringing the total pool of possible collaboration opportunities between Aramco and US companies to about $120bn. Aramco CEO Amin Nasser stated that these deals are expected to act as a “springboard for further progress.”
Its dollar bonds traded stable with its 5.375% 2035s at 103.1, yielding 5.0%.
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