DAVOS, Switzerland (Reuters) - Saudi oil giant Aramco is looking to expand in the United States where President Donald Trump’s tax cuts and support for the oil industry are making business increasingly attractive, its chief executive told Reuters.
Aramco already controls a large refinery in Texas. It is also preparing to launch what could be the world’s largest initial public offer (IPO) and is considering listing its shares in New York among several possible exchanges.
“We are looking at new business opportunities in the U.S. and with the tax cuts it will make it much more profitable ... It is part of our strategy to grow our business in the U.S.,” Amin Nasser said in an interview.
“The Trump administration has been positive towards the energy industry. As long as what they are doing is in the interest of all and the U.S. economy is growing, we are happy. The whole oil industry is benefiting from the current administration,” Nasser said on the sidelines of the World Economic Forum in Davos.
Reporting by Dmitry Zhdannikov, Stephen Adler and Simon Robinson; Editing by Mark Bendeich