The Supreme Council of the Saudi Arabian Oil Company (Saudi Aramco) held its first meeting on Wednesday evening in Jeddah.
The meeting was chaired by Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, Second Deputy Prime Minister and Minister of Defense, as well as Chairman of the Board of Economic Affairs and Development and the President of the Supreme Council for Saudi Aramco.
The meeting included a presentation on Saudi Aramco’s strategy and its role in support of sustainable development in the Kingdom including a review of the program of the strategic transformation of the company to be an integrated energy and chemicals company and to support its role in the sustainable development of the Kingdom.
The Council took during the meeting a number of decisions, including:
-Appointment of Eng Amin bin Hassan Al-Nasser as executive president of the Saudi Arabian Oil Company (Saudi Aramco.)
– Approval of the company’s five-year action plan for the period from (2015 –2 019), including the five-year capital program associated with it.
– Appointment of independent auditors of the Company and its subsidiaries for the year 2015, and determination of their remuneration.
– Approval of the balance sheet and profit and loss account of the company (consolidated financial statements) for the year 2014, and the quittance of the members for their management for the year.
At the end of the meeting, the President of the Council paid tribute to the performance of the company and its employees, and expressed his pride in Saudi Aramco as a leading national company.
