Saudi state energy giant Aramco aims to expand into international oil and gas exploration in the coming years, a move that will see the company compete more directly with the likes of Exxon Mobil and Royal Dutch Shell. Aramco has historically stuck to producing Saudi Arabia's vast, low-cost oil reserves, the world's second largest. But Saudi Energy Minister Khalid al-Falih now confirms in an interview with the Financial Times that the company will look overseas for oil and natural gas prospects. "We are no longer going to be inward-looking and focused only on monetizing the kingdom's resources," Falih told the FT. ... (full story)