Saudi Aramco signs $90 billion US agreements amid Trump’s Riyadh visit

Saudi Aramco, one of the world’s largest oil company, announced 34 preliminary agreements with major US firms, potentially worth up to USD 90 billion.

The deals, unveiled during President Donald Trump’s Gulf tour, underscore a deepening economic partnership between Saudi Arabia and the United States, with a focus on energy, technology, and artificial intelligence (AI).

The agreements, described as memorandums of understanding (MOUs), include partnerships with US liquefied natural gas producer NextDecade and utility company Sempra, as confirmed by Aramco CEO Amin Nasser at the US-Saudi Investment Forum in Riyadh.

Nasser emphasized the US as a prime destination for Aramco’s investments, signaling confidence in the bilateral relationship. These tie-ups align with Saudi Arabia’s Vision 2030, which aims to diversify the kingdom’s economy beyond oil.

Trump’s four-day Gulf visit, covering Saudi Arabia, Qatar, and the United Arab Emirates, has spurred a flurry of economic commitments, including a USD 600 billion Saudi pledge to invest in the US and a USD 142 billion arms deal.