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Saudis Enlist Former Chevron Chief

Saudi Arabia appoints former Chevron chairman and CEO David O'Reilly to serve on the board of the kingdom's oil company.

RIYADH, Saudi Arabia -- Former Chevron (CVX) - Get Chevron Corporation Report Chairman and CEO David O'Reilly has been appointed to the board of Saudi Arabia's state-run oil company, Aramco.

The kingdom's press agency Saturday reported that O'Reilly had received the appointment from Saudi Arabia's King Abdullah, according to the

Associated Press

.

Abdullah was naming a new board for Aramco.

O'Reilly became Chevron's top executive and chairman in January 2000 and retired from those posts at the end of 2009.

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Aramco last year completed a plan to raise its output capacity to more than 12 million barrels a day, but it is not using all of that capacity because of OPEC production quotas, the

AP

noted.

Shares of Chevron ended Friday down 79 cents at $75.05.

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This article was written by a staff member of TheStreet.