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Aramco Chair Eyes Global Storage Expansion to Shield Supplies from Future Disruptions

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Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, plans to boost its international storage capacity to avoid oil supply disruptions in the future, Reuters reported Thursday, citing Chair Yasir Al-Rumayyan.

Speaking at the FII PRIORITY Europe summit, Al-Rumayyan added that the state-owned oil giant is evaluating opportunities to establish larger storage facilities across key global markets.

The executive, however, noted the regulatory hurdles the company had previously faced in investing in Europe.

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