Saudi Aramco has signed new agreements with Chinese companies to expand its refining and petrochemical presence in China.
The world’s biggest crude oil exporter and largest oil company, Saudi Aramco , has signed additional agreements with China ’s Rongsheng Petrochemical and Hengli Group to advance talks on cooperation in the refining and petrochemical sectors in China and Saudi Arabia. Aramco signed a Development Framework Agreement with Rongsheng regarding the potential joint development of an expansion of Saudi Aramco Jubail Refinery Company SASREF facilities, the Saudi oil giant said on Wednesday.
and participate in ZJPC’s expansion project. Aramco’s agreement with Hengli Group advances talks relating to Aramco’s potential acquisition of a 10% stake in Hengli Petrochemical Co., Ltd., subject to due diligence and required regulatory clearances. Earlier this year, Aramco entered into discussions with Hengli Group about the potential acquisition of 10% in Hengli Petrochemical.
China Refining Petrochemicals Rongsheng Petrochemical Hengli Group SASREF Downstream LNG Yasser Mufti
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