That includes Saudi Aramco, the world's largest and most profitable oil producer. The realignment of priorities could have long term consequences for the company and the Saudi kingdom, given the politically sensitive nature of some projects. "There's always politics involved," said Iman Nasseri, Middle East managing director at Facts Global Energy. The company is also expected to make payouts to the Saudi government, which relies on oil income to fund heavy social and military spending. "Saudi is an oil state and Aramco is an oil company," Nasseri said.

Source: CNN September 03, 2020 14:37 UTC