Ex-Chevron head appointed to Aramco board

[August 23, 2010]  RIYADH, Saudi Arabia (AP) -- 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.

[Associated Press]

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