Saudi Aramco Eyes $129B Investment in New Projects

State oil company Saudi Aramco plans to invest $129 billion on new energy projects in the next five years, Reuters reported.

About $70 billion of the total would be spent by international and domestic joint ventures, and the remaining $59 billion on projects solely undertaken by Aramco, Khalid al-Falih, the company’s executive vice president of operations, told Reuters in an interview in Manama, Bahrain on Sunday.