Saudi king appoints ex-Chevron head to board of state oil giant Aramco
By APSunday, August 22, 2010
Ex-Chevron head appointed to Aramco board
RIYADH, Saudi Arabia — Saudi Arabia’s king has appointed the Chevron Corp.’s former chairman as a board member of Saudi Aramco, the country’s state-run oil giant.
David O’Reilly’s appointment, reported by the Saudi Press Agency late Saturday, came as King Abdullah named a new board for Aramco. The company’s president, Khalid Al Falih remains Aramco’s chief executive.
O’Reilly served as Chevron’s chairman for 10 years, helping build it into the second-largest U.S. oil company. He led two of the company’s biggest deals — its acquisition of Texaco Inc. in 2001 and the purchase of Unocal four years later.
Aramco last year completed a plan to raise its output capacity to over 12 million barrels per day, although roughly 25 percent of that capacity is idled because of OPEC production quotas.
