Saudi Arabia’s Aramco and SABIC have announced their intention to transfer the marketing and sales responsibility for a number of Aramco petrochemicals and polymers products to SABIC, and the offtake and resale responsibility of a number of SABIC products to Aramco Trading Company (ATC). The effect of these changes, planned to be implemented on a phased basis during 2021, subject to the necessary consents being obtained, will focus SABIC on petrochemicals products and ATC on fuel products. This is a significant step in aligning the Aramco and SABIC strategies, following Aramco’s acquisition of a 70% stake in SABIC in June 2020. Aramco and SABIC will continue to review options for further global marketing and sales transfers across product-producing companies within the Aramco group portfolio.