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Page count: 6

With more than 260 billion barrels in proven reserves, Saudi Aramco is an undeniable force in the global oil market. But to remain one of the largest companies in the world, the state-owned entity wants to be less dependent on a single energy source. In line with a government initiative to move Saudi Arabia's economy beyond oil, Saudi Aramco is charting a more diversified future to compete globally in the natural gas, refining and petrochemical markets. To fuel this transformation, the company's leaders began increasing capital project spending about a decade ago.