Saudi Aramco overcomes COVID-19 crisis on strong solvency, says president

13/07/2020 Argaam

 

Saudi Arabian Oil Co. (Saudi Aramco) has survived the negative implications of the COVID-19 outbreak, thanks to its strong financial solvency, said Amin Nasser, the company's President and CEO.

 

"Saudi Aramco rescheduled some projects without any impact on its strategy, obligations, or maximum production capacity," Nasser added during Asharqia Chamber virtual forum on the impact of COVID-19 on businesses.
 

It also cut operating and capital expenses to mitigate the pandemic implications.

  

"We have a long-term strategy and we will not change it due to the coronavirus crisis," Nasser concluded.

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