Former Chevron head appointed to Aramco board

Attention: open in a new window. PDFPrintE-mail

Commodities - International Oil Report

RIYADH : Saudi Arabia s king has appointed the Chevron Corp s former chairman as a board member of Saudi Aramco, the country s state-run oil giant. David O Reilly s appointment, reported by the Saudi Press Agency late Saturday, came as King Abdullah named a new board for Aramco. The company s president, Khalid Al Falih remains Aramco s chief executive.

O Reilly served as Chevron s chairman for 10 years, helping build it into the second-largest
US oil company. He led two of the company s biggest deals _ its acquisition of Texaco Inc in 2001 and the purchase of Unocal four years later. Aramco last year completed a plan to raise its output capacity to over 12 million barrels per day, although roughly 25 percent of that capacity is idled because of OPEC production quotas.

Courtesy: Business Recorder

Forex open Market rates & comments Archive

Login Form