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Saudi Aramco Announces MoUs and Deals Worth Over $30bn with US Firms

Saudi state oil producer Aramco announced memoranda of understanding and agreements with U.S. companies with potential total value exceeding $30 billion.

It said the projects span LNG, financial services, advanced materials manufacturing and procurement of materials and services

Saudi and U.S. officials touted billions in new investments and growing financial ties between the two countries, coinciding with a visit to the White House by Saudi Arabia's de-facto leader Crown Prince Mohammed bin Salman.

We expect the multi-billion-dollar MoUs and agreements announced to act as a springboard for further progress," and to strengthen Aramco's collaboration with American firms, Aramco's CEO Amin Nasser said in the statement.

The agreements build on previous memoranda of understanding that were signed during a tour of Gulf countries by the U.S. President Donald Trump in May, when Aramco signed 34 preliminary deals potentially worth up to $90 billion.

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