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Petrochemicals
Aramco, Rongsheng sign more deals
by Alexander H. Tullo
January 5, 2024
| A version of this story appeared in
Volume 102, Issue 1
Saudi Aramco and China’s Rongsheng Petrochemical have signed a memorandum of understanding for a new round of deals. Rongsheng plans to acquire a 50% stake in Saudi Aramco Jubail Refinery, a facility in Saudi Arabia with capacity of 300,000 barrels per day. Meanwhile, Aramco aims to acquire a stake of up to 50% in Ningbo Zhongjin Petrochemical. Currently a Rongsheng subsidiary, Zhongjin has assets valued at about $5.2 billion. Aramco bought a $3.4 billion stake in Rongsheng in July.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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