Saudi Aramco Eyes Stake in Chinese Petrochemical Firm ...Middle East

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Saudi Aramco Eyes Stake in Chinese Petrochemical Firm
source : OILPRICE ( Middle East ) () 77
Saudi oil giant Aramco is proceeding with plans to boost its downstream presence in its most important export market, China, with discussions to buy a minority stake in a Chinese petrochemical company. Aramco has entered into discussions with Hengli Group Co., Ltd. regarding the potential acquisition of a 10% stake in Hengli Petrochemical Co., subject to due diligence and required regulatory clearances, the Saudi firm said in a statement on Monday. Hengli Petrochemical International Pte. Ltd and Aramco signed on Monday a Memorandum of…

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