Saudi Aramco, the world’s biggest oil company, is reviewing some of its long-term projects following the sharp decline in oil prices and a dramatic slowdown in demand growth for crude, a senior official said on Tuesday.

The official did not elaborate on details of the review process, saying no firm decisions had been made. It was also unclear whether the review could result in a decision to slow down the development of some of the kingdom’s projects or simply a renegotiation of contracts with service companies.