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Saudi to sign $50B in energy, infrastracture deals

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  • Economy
  • 3 weeks ago
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Despite tensions around the Khashoggi case, Saudi Arabia plans to sign deals worth more than $50B in the oil, gas, industries and infrastructure sectors at the Future Investment Initiative in Riyadh.

The deals will be signed with companies including Trafigura, Total (NYSE:TOT), Hyundai (OTCPK:HYMLF), Norinco, Schlumberger (NYSE:SLB), Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BHGE).

Threats of U.S. sanctions may still accelerate a Saudi shift eastward, increasing business engagement with Russia and China.

Source : Reuter