Aramco to expand presence in China by acquiring 10% stake in Rongsheng Petrochemical
– Deal involves placement of 480,000 barrels per day of crude to the largest integrated refining and chemicals complex in China Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% interest in Shenzhen-listed Rongsheng Petrochemical Co. Ltd. (“Rongsheng”) for RMB 24.6 billion ($3.6 billion at current exchange rates), in a deal that…
