Saudi energy giant Aramco, the world’s largest integrated oil and gas company, could be upping is planning to up its investment stake in its Chinese partner, as it expands its investments footprint in the country.
Chinese and Saudi Arabian companies are inking investment deals in sectors ranging from infrastructure to aquaculture in the week following the successful 10th Arab-China Business Conference, which gathered more than 3,500 Chinese and Saudi officials and business representatives.
Saudi oil giant Aramco inked a major refinery and petrochemical complex project with its Chinese partners over the weekend, the greenfield project will include a 300,000 barrels per day (bpd) refinery and 1.65 million tons steam cracker, according to the company.