Aramco, one of the world’s leading integrated energy and chemical companies, Nanshan Group Co., Ltd., Shandong Energy Group Co., Ltd., and Shandong Yulong Petrochemical Co., Ltd. signed on Wednesday a Memorandum of Understanding (MoU) to facilitate discussions relating to the possible acquisition by Aramco of a 10% strategic equity interest in Shandong Yulong Petrochemical Co., Ltd. (Shandong Yulong), subject to due diligence, negotiation of transaction documents and required regulatory clearance.
Saudi Aramco is in talks to
buy a 10% stake in Shandong Yulong Petrochemical Co, it said on
Wednesday, a deal that would further boost the state oil giant s
investments in China. Shandon.
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Aramco and Jiangsu Eastern Shenghong have signed a cooperation framework agreement to discuss acquiring a 10 per cent strategic equity interest in Jiangsu Shenghong Petrochemical Industry Group.