Saudi Aramco Signs MOUs with U.S. Firms to Advance Lower-Carbon Solutions

📆 17/05/2024 18:50:00
📰 OilandEnergy

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In a strategic move to bolster its commitment to sustainable energy, Saudi Aramco has entered into three significant memorandums of understanding with U.S. companies Aeroseal, Spiritus, and Rondo

In a strategic move to bolster its commitment to sustainable energy, Saudi Aramco 2223.SE has entered into three significant memorandums of understanding MOUs with U.S. companies Aeroseal, Spiritus, and Rondo. The agreements aim to explore and develop lower-carbon energy solutions, as detailed in an official statement released on Friday.

The visit underscores the growing collaboration between the U.S. and Saudi Arabia in the energy sector, particularly in the development and deployment of sustainable technologies. Background and Financial Performance Despite the strategic advancements in sustainability, Saudi Aramco has faced financial challenges in recent quarters. The company's net income for Q1 2024 was $27.3 billion, a 14% decline from the $31.

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