Thursday, March 28, 2024
HomeoilSaudi Aramco in advanced talks to buy China refinery stakes, chairman says

Saudi Aramco in advanced talks to buy China refinery stakes, chairman says

Saudi Aramco is in advanced talks to invest in refineries in China and the company was also in talks with CNPC and Sinopec for investment opportunities in refining, marketing and petrochemicals, the chairman of the state oil company said.

Saudi Aramco Chairman Khalid al-Falih also told reporters on the sidelines of the official inauguration of Yasref, a 400,000 barrels per day oil refinery, that there may be opportunities for further expansion of the plant.

The refinery, which began operations at full capacity in July, is a joint venture between Saudi Aramco, the world's biggest oil company, and China's Sinopec.

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