{"id":371483,"date":"2020-09-03T10:12:32","date_gmt":"2020-09-03T04:42:32","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=371483"},"modified":"2020-09-03T10:12:32","modified_gmt":"2020-09-03T04:42:32","slug":"saudi-aramco-slows-diversification-plans-amid-industry-downturn","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramco-slows-diversification-plans-amid-industry-downturn\/","title":{"rendered":"Saudi Aramco slows diversification plans amid industry downturn"},"content":{"rendered":"<p>Saudi Arabia\u2019s state oil giant is reviewing plans to expand at home and abroad in the face of sharply lower oil prices and a heavy dividend burden it assumed as part of its recent initial public offering, according to people familiar with the matter.<\/p>\n<p>Saudi Aramco is now slowing down and reviewing a $6.6 billion plan to add petrochemical output at its Motiva refinery in Texas, these people said. It is also reviewing a big natural-gas project with Sempra Energy in the same state, and pausing investments in refineries in China, India and Pakistan, these people said. At home, Aramco is delaying by a year plans, announced in March, to boost crude production capacity to 13 million barrels a day, from currently about 12 million, these people said.<\/p>\n<p>Aramco didn\u2019t immediately return requests for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia\u2019s state oil giant is reviewing plans to expand at home and abroad in the face of sharply lower oil prices and a heavy dividend burden it assumed as part of its recent initial public offering, according to people familiar with the matter. Saudi Aramco is now slowing down and reviewing a $6.6 billion plan to add petrochemical output at its Motiva refinery in Texas, these people said. It is also reviewing a big natural-gas project with Sempra Energy in the same state, and pausing investments in refineries in China, India and Pakistan, these people said. At home, Aramco [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-371483","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/371483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=371483"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/371483\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=371483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=371483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=371483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}