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Aramco completes $3.4bn purchase of Rongsheng Petrochemical stake

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Saudi Arabian Oil Company
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Braun, Uwe
7/23/2023 10:01 AM

Aramco purchased 10% interest in Rongsheng for RMB 24.6 billion ($3.4 billion at current rates)

Transaction represents continued growth of Aramco’s downstream presence in China

Aramco will supply Zhejiang Petroleum and Chemical Co. Ltd (ZPC) 480,000 barrels per day of crude oil in a long-term sales agreement

Aramco completes $3.4bn purchase of Rongsheng Petrochemical stake | Aramco