Saudi Aramco will present its 2008-2012 Business Plan, which was endorsed recently by the Board of Directors, to the Supreme Council for Petroleum and Mineral Affairs. The Board, chaired by Ali I. Al-Naimi, the Minister of Petroleum and Mineral Resources, approved all the items presented to them by company executives, including the placement of three top executives, along with expenditures for facilities and environmental initiatives. Salim S. Al-Aydh, Engineering and Project Management senior vice president noted that 15 expenditure requests under the Capital Budget were presented and approved. Al-Aydh said meeting the Business Plan's objectives will mean more challenges for every employee. “Market conditions continue to show strong fundamentals, and attractive upstream and downstream investments will continue to be evaluated. “We will efficiently administer, manage and implement our large and ambitious capital investment programs while maintaining control of costs. We will meet steadily rising domestic energy demands while retaining our ability and flexibility to respond to potential international market risks, which are always present.” --MORE
