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Saudi Aramco and South Korea’s S-Oil will collaborate on a $6 billion ethylene cracker complex in South Korea to be completed in 2024. S-Oil, which counts Aramco as a major shareholder, kicked off a study of such a cracker in the past year. Aramco says the agreement also covers the use of the crude oil-to-chemicals technology it has been developing. While in Korea, Aramco officials, who want to diversify beyond oil and fuels, signed agreements with other companies, including Hyosung Group, which might develop a carbon fiber facility in Saudi Arabia.
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