Logo design of Saudi Arabian Oil Co. (Saudi Aramco)
China’s Rongsheng Petrochemical Co. Ltd. signed a memorandum of understanding (MoU) with Saudi Arabian Oil Co. (Saudi Aramcoto obtain 50% of Saudi Aramco Jubail Refinery Co. (SASREF.
They are likewise talking about Aramco’s prospective acquisition of approximately 50% of Rongsheng’s Ningbo Zhongjin Petrochemical system, the business stated in a declaration to the Shenzhen Stock Exchange (SZSE).
The last financial investment choices for both deals depend upon due diligence, it included.
Saudi Aramco purchased a 10% stake in Rongsheng Petrochemicals for RMB 24.6 billion ($3.4 billion) in July 2023, through its wholly-owned subsidary Aramco Overseas Co., according to information put together by Argaam