Alphabet in Saudi Aramco talks

Alphabet in Saudi Aramco talks
Aramco is keen to push its business interests further into the US.
Published: 4 February 2018 - 2:45 a.m.
By: Jonathan Sheikh-Miller

The parent company of Google, Alphabet Inc., is in discussions with national oil company (NOC) Saudi Aramco about building a technology hub in Saudi Arabia, according to the Wall Street Journal (WSJ) cited by Reuters.

At this time, it is not known who would run the centre and what it would constitute. Neither Aramco nor Alphabet have yet divulged any details on the possible joint venture (JV).

Last year, Reuters previously reported that Apple and Amazon are also in licensing discussions with Riyadh on investing in the kingdom. A JV with Alphabet would help extend Aramco’s reach into the US. The NOC already owns a major refinery at Port Arthur in Texas.

The size of the potential tie-up is unclear, although the WSJ has suggested the new JV might be big enough to list on the Tadawul, Saudi Arabia’s local bourse.

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