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RIYADH: Power big Saudi Aramco has accomplished its buy of a ten p.c stake in China-based agency Rongsheng Petrochemical Co. for $3.4 billion.
The deal follows the signing of definitive strategic agreements by each firms on March 27, and represents the continued development of Aramco’s downstream presence in China, in response to a press launch.
It contains the provision of 480,000 barrels per day of Arabian crude to the biggest Chinese language built-in refining and chemical substances advanced, which is owned by Rongsheng affiliate Zhejiang Petroleum and Chemical Co.
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