Aramco Announces Deals With US Companies Worth $90 Billion

Saudi Aramco unveiled 34 preliminary deals with prominent US companies worth up to $90 billion on May 16. These deals are part of Aramco’s move to deepen commercial ties with the United States.

The deals highlight Saudi Arabia’s efforts to boost its energy ties and attract foreign investment.

Under its Vision 2030 agenda, Saudi Arabia seeks to balance its oil dominance with broader industrial and technological growth.

The unveiling coincided with US President Donald Trump’s four-day tour of the Gulf region.

Key Details of the Aramco-US Deals

Saudi Aramco has announced a series of agreements with major US companies, valued at up to $90 billion.

These 34 memoranda of understanding (MoUs) span diverse sectors such as energy(LNG), technology (advanced manufacturing, AI), and finance.

Saudi Arabia’s ambition to reduce its overreliance on oil exports is at the heart of the agreement by embracing advanced technologies and international capital flows.

On the other hand, the United States secured a key partner for long-term LNG exports and infrastructure investments at home. The US also deepened economic ties with the largest market in the Middle East.

Aramco-US Deal: Energy Sector

Saudi Aramco signed a MoU with Sempra regarding liquefied natural gas (LNG) equity stake in Port Arthur LNG 2.

The Saudi oil giant signed a collaboration deal with Woodside Energy to explore global opportunities, including an equity interest and LNG offtake from the Louisiana LNG project.

Saudi Aramco signed a 20-year LNG supply agreement with NextDecade to supply 1.2 million tonnes of LNG annually for 20 years. LNG will be supplied from the fourth LNG train at NextDecade’s Rio Grande Facility at the Port of Brownsville in Texas.

 The company also revealed plans to invest $3.4 billion to expand its Motiva refinery in Port Arthur, Texas.

Technology and AI

Aramco signed an MoU with Nvidia to develop advanced Industrial computing infrastructure. The deal also entails the establishment of an AI Hub, AI Enterprise platforms, and an Engineering and Robotics Centre of Excellence.

The company also signed a non-binding Strategic Framework agreement with Amazon Web Services for collaboration on cloud computing infrastructure and data storage capacity for Aramco’s digital transformation projects.

Aramco signed an MoU with Qualcomm to develop 5G-enabled industrial networks. The network will connect intelligent edge devices with on-device AI capabilities, including rugged industrial devices, robots, smartphones, drones, sensors, and other IoT devices.

Technical Services

MoUs were signed with US suppliers such as McDermott, Halliburton, SLB, Baker Hughes, Weatherford, KBR, Honeywell, and others. These suppliers will provide Aramco with materials and professional services to support their projects and operations.

Finance

Aramco, BlackRock, Goldman Sachs, and Morgan Stanley agreed to establish a joint investment fund, “Fund of One.” This fund will facilitate strategic investments in the US & Saudi infrastructure and fintech sectors.

Armaco, via Wisayah Asset Management Company, agreed to cooperate with PIMCO, State Street, and Wellington to explore asset management collaborations and capital market opportunities. The aim is to assist Aramco in diversifying revenue and investing surplus capital outside of oil.

Read: Saudi Aramco Post Dip in Q1-2025 Profit on Weaker Oil Prices

Geopolitical Implications

Apart from commercial ties, the $90 billion deal between Saudi Aramco and major US companies also has geopolitical implications.

These deal comes as global alliances are being reshaped by shifting energy markets, technological competition (AI, quantum computing), and tensions in the Middle East.

The Armaco-US deal reaffirms the economic ties between Riyadh and Washington. The US will remain a critical partner in advanced technology, energy expertise, and financial markets for Saudi Arabia. These are essential components of Crown Prince Mohammed Bin Salman’s Vision 2030.

The US support of Saudi Arabia’s Vision 2030 will benefit American companies, as these companies will have access to Saudi Arabia’s booming economy.

The deal will enable Riyadh to maintain a diversified geopolitical portfolio. Over recent years, China has increased its investments in Saudi Arabia’s infrastructure, oil trade, and digital sector (5G). China is Saudi Arabia’s largest trading partners.

However, these 34 new deals with the US, especially in AI, cloud computing, and LNG, Saudi Arabia is signalling its intent to forge great economic ties with China and the United States, ensuring access to Western innovation and Chinese capital.

Unfortunately, the geopolitical implications are not without complications. For instance, domestic politics in the US, especially if Democrats come to power, could affect the continuity of the Aramco-US deal. The Democratic Party tends to be critical of Saudi Arabia due to its human rights record or fossil fuel expansion, amid the party’s aggressive support for renewables. Also, a perceived US favouritism could trigger pushback from China.