Aramco Strengthens Ties with Chinese Partners Through Strategic Agreements

Saudi Arabian Oil Co. (Aramco) has announced new agreements with key Chinese partners Rongsheng and Hengli. These agreements include potential acquisitions and strategic joint developments aimed at expanding petrochemical facilities and enhancing international collaborations.

Saudi Arabian Oil Co. (Aramco) is taking significant steps to boost its international presence, particularly in China, through new agreements with Rongsheng and Hengli.

The agreement with Hengli Group involves discussions about Aramco potentially acquiring a 10% stake in Hengli Petrochemical.

Simultaneously, Aramco is exploring collaborative ventures with Rongsheng Petrochemical, which may include acquiring a 50% stake in SASREF and participating in the expansion of facilities within Zhongjin Petrochemical.

(With inputs from agencies.)