Saudi Aramco’s procurement spend is increasingly weighted towards domestic suppliers. The energy giant announced this week that 56% of its procurement spend in 2019 was ‘in-Kingdom’, up from just 35% in 2015. The announcement was made at the In-Kingdom Total Value Add (IKTVA) Forum & Exhibition.

CEO Amin Nasser told the event that “we’re enabling a vibrant commercial ecosystem that will drive efficiency and reliability of our operations. Through effective governance, IKTVA has created infrastructure, streamlined processes, and built capabilities that improve return on investment and leverage greater value for our company.” (CONTINUED - 231 WORDS)