Aramco, one of the world’s leading integrated energy and chemicals companies, will expand its downstream presence in China by acquiring 10% stake in Rongsheng Petrochemical for $3.6 billion, the Saudi company has said.
Aramco, one of the world s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% interest in Shenzhen-listed Rongsheng Petrochemical Co. Ltd. for. | March 27, 2023
RIYADH: Global energy giant Saudi Arabian Oil Co. has further expanded its presence in China by acquiring a 10 percent stake in Shenzhen-listed Rongsheng Petrochemical Co. for $3.6 billion. According to a press release, Aramco will supply 480,000 barrels per day of Arabian crude oil to Rongsheng affiliate Zhejiang Petroleum and Chemical Co. under a long-term sales agreement.
Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% interest in Shenzhen-listed Rongsheng Petrochemical Co. Ltd. (Rongsheng) for $3.6 billion
/PRNewswire/ Aramco, one of the world s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% interest in.