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Petrochemicals
Aramco invests in another Chinese firm
by Alexander H. Tullo
October 6, 2023
| A version of this story appeared in
Volume 101, Issue 33
Saudi Aramco is in negotiations with the Chinese firm Jiangsu Eastern Shenghong to buy a 10% stake in its subsidiary Jiangsu Shenghong Petrochemical Industry Group. Shenghong Petrochemical operates an integrated refinery and petrochemical complex, a methanol-to-olefins complex, and a purified terephthalic acid plant in China. Aramco intends to supply Shenghong Petrochemical with crude oil and other feedstocks. In July, Aramco purchased a 10% stake in a larger Chinese petrochemical firm, Rongsheng Petrochemical, for $3.4 billion.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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