Aramco to expand presence in China by acquiring 10% stake in Rongsheng Petrochemical
Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% interest in Shenzhen-listed Rongsheng Petrochemical Co. Ltd. (“Rongsheng”) for RMB 24.6 billion ($3.6 billion at current exchange rates), in a deal that would significantly expand its downstream presence in China. Through the strategic arrangement, Aramco would supply