King Salman issues royal decree, approves amendment to Saudi govt-Aramco concession deal

04/12/2020 Argaam

King Salman issued a royal decree approving amendments to the concession agreement between the state government and Saudi Arabian Oil Co. (Saudi Aramco), which was in effect on Dec. 24, 2017.  

 

In November 2019, Saudi Aramco announced amending its concession agreement with the state government, as royalty on crude oil and condensate output will be cut to 15% from 20%. 

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