Saudi Arabia’s leading oil company, Aramco, has appointed Nasir al-Naimi as the president of its upstream business and Mohammed Al Qahtani as the president of its downstream business. The appointments, which have received approval from the board, are set to take effect from July 1.
Aramco, which went public on the Saudi stock exchange in late 2019, initially raised $25.6B through its IPO and later increased the total to $29.4B by exercising the “greenshoe option” to sell additional shares.