Saudi Aramco keeps projects progress despite COVID-19 – CEO – ZAWYA

Saudi Aramco keeps projects progress despite COVID-19 – CEO – ZAWYA

Saudi Aramco keeps projects progress despite COVID-19 - CEO | ZAWYA MENA Edition HomeBusinessEnergyArticleSaudi Aramco keeps projects progress despite COVID-19 - CEO Despite the challenges posed by COVID-19, the company completed the acquisition of a 70% stake in the Saudi Basic Industries Corporation and managed to cut its operating and capital expenses    Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. Image used for illustrative purpose.Riyadh -  The Saudi Arabian Oil Company (Saudi Aramco) has faced major challenges during the COVID-19 pandemic while its preparedness helped manage the crisis, the company's president and CEO, Amin Nasser, said on Monday.The worst is behind us, Nasser said during a virtual meeting currently held by Asharqia Chamber, adding that the oil demand decreased by around 75-80 million barrels at the beginning of the second quarter (Q2) in 2020 and is on its way to recover.Aramco has reclassified pandemics as the main risk factor. Despite the challenges posed by COVID-19, the company completed the acquisition of a 70% stake in the Saudi Basic Industries Corporation (SABIC) and managed to cut its operating and capital expenses.The worst is behind us, Nasser said during a virtual meeting currently