Aramco Signs $90 Billion in U.S. Deals as Trump Gulf Visit Sparks New Tie-Ups
(Reuters) — Saudi Aramco unveiled 34 preliminary deals with major U.S. companies on May 14, potentially worth up to $90 billion in one of its broadest pushes to deepen commercial ties with the United States.
The agreements underscore Saudi Arabia’s efforts to strengthen its energy partnerships and attract foreign investment as it looks to balance oil dominance with broader industrial and technological growth under Vision 2030.
"The U.S. is really a good place to put our investment," Aramco CEO Amin Nasser said on Tuesday at the U.S.-Saudi Investment Forum in Riyadh. He was announcing deals with U.S. liquefied natural gas producer NextDecade and utility company Sempra.
The event coincided with U.S. President Donald Trump's four-day tour of the Gulf, marked by lavish receptions and a series of business deals, including Saudi Arabia's $600 billion pledge to invest in the United States and $142 billion in arms agreements.
The $90 billion worth of agreements represent one of Aramco's largest single-day announcements with U.S. firms, reflecting the scale of the kingdom’s push to deepen strategic economic ties with Washington across energy, technology, and finance.
A Memorandum of Understanding with tech heavyweight Nvidia aims to establish advanced industrial AI infrastructure, including an AI Hub, an engineering and robotics center, and workforce training programs.
Aramco also signed an MoU with ExxonMobil to evaluate a significant upgrade to their SAMREF refinery, with plans to expand it into an integrated petrochemical complex.
Meanwhile, it inked a non-binding agreement with Amazon Web Services to collaborate on digital transformation and lower-carbon initiatives.
"Our U.S.-related activities have evolved over the decades, and now include multi-disciplinary R&D, the Motiva refinery in Port Arthur, start-up investments, potential collaborations in LNG, and ongoing procurement," Nasser said in a statement.
Aramco is the economic backbone of Saudi Arabia, generating the bulk of the kingdom's revenue through oil exports and funding its ambitious Vision 2030 diversification drive.
Beyond energy, the state oil giant has become a key vehicle for industrial development, digital transformation, and foreign investment.
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