Saudi Arabia’s state-owned oil giant Aramco has entered into discussions with Hengli Group regarding the potential acquisition of a 10% stake in Hengli Petrochemical, subject to due diligence and required regulatory clearances.
Saudi Arabia is transferring another 4% chunk of state-owned oil giant Saudi Aramco, parent company of petrochemicals and plastics producer SABIC, to Sanabil Investments, a vehicle wholly owned by the Kingdom’s Public Investment Fund (PIF).
Saudi Arabia is on a path toward establishing a major presence in the Chinese market. Saudi Aramco, the world’s biggest oil producer, said it plans to start construction on a large refinery and petrochemicals complex in northeastern China sometime in April.
Saudi Aramco and Linde Engineering have agreed to jointly develop new ammonia cracking technology and plan to build a demonstration plant in northern Germany.
Financing for the $12 billion air separation unit gasification/power joint venture between US industrial gases producer Air Products and its Saudi subsidiary Air Products Qudra with Saudi Aramco and ACWA Power has moved forward another notch.
Aramco and Sinopec have signed two separate agreements to develop petrochemical complexes in their home countries of Saudi Arabia and China.
SABIC, Saudi Aramco and PKN Orlen have signed a joint development agreement to assess the technical and economic feasibility of a petrochemical project in the Polish city of Gdansk. The project would include a steam cracker and downstream plants.
SABIC has announced plans to set up a crude oil-to-chemicals (COTC) complex in Ras Al-Khair, Saudi Arabia. The complex is expected to convert 400,000 bbl/day of oil, the company said in a statement to the Tadawul stock exchange.
Saudi Aramco has announced that its South Korean affiliate S-Oil will proceed with a refinery-petrochemical project at Ulsan. The complex will represent the first commercialization of Aramco and Lummus Technology’s thermal crude-to-chemicals technology (TC2C) when it starts up in 2026.
Saudi Aramco and Sinopec have signed a Memorandum of Understanding (MoU) that covers multiple areas of potential collaboration in Saudi Arabia.
Saudi Aramco, world‘s largest oil company, plans to participate in developing a major integrated refinery and petrochemical complex in Northeast China. It has also signed a memorandum of understanding (MoU) with Chinese state-owned chemicals giant Sinopec for potential downstream collaboration on projects in the People’s Republic.
Saudi Aramco has taken a final investment decision to participate in developing a major integrated refinery and petrochemical complex in Panjin, Liaoning province, northeastern China. Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco, North Huajin Chemical Industries Group Corporation and Panjin Xincheng Industrial Group that was established in December 2019, will develop the liquids-to-chemicals complex.
Reliance Industries and Saudi Aramco have mutually agreed to shelve plans for the latter to take a stake in the Indian company’s oil-to-chemicals (O2C) business. Reliance is now withdrawing its application with India’s National Company Law Tribunal to spin off the O2C business in preparation for the deal.
With a capital injection of £850 million from parent company Saudi Aramco, petrochemicals and plastics producer SABIC has unveiled plans to restart the currently idled cracker at Wilton Teesside in northeast England. The company said the investment will help to implement the Kingdom’s new global carbon neutrality strategy called Saudi Green Initiative (SGI).
US industrial gases company Air Products, together with its Saudi-based subsidiary Air Products Qudra, Saudi Aramco and ACWA Power have signed definitive agreements for the asset acquisition and project financing of the $12 billion air separation unit gasification/power joint venture they will operate in Jazan Economic City, Saudi Arabia.
Saudi Aramco has signed 22 Memoranda of Understanding (MoUs) with companies that include Shell, Solvay, Air Liquide and Linde as it drives forward its industrial investment program, called Namaat. The Namaat program is focused on investments in the areas of sustainability, technology, industrial and advanced materials
Saudi Arabia’s US Gulf Coast offshoot, Motiva Enterprises has at least temporarily suspended plans worth at least $6.6 billion to add new petrochemical plants to its refining operations in Port Arthur, Texas, the Wall Street Journal (WSJ) reported, citing “people familiar with the matter.”
Saudi Aramco and Dow have amended the shareholders agreement for their Sadara Chemical joint venture with the partners taking on direct responsibility for marketing their shares of the output.
Saudi Aramco and SABIC are re-evaluating the scope of their proposed crude oil-to-chemicals (COTC) complex in Yanbu, Saudi Arabia.
Saudi Aramco said it will reorganize its downstream business by the end of the year to support and enhance integration across the hydrocarbon value chain and better position the group to drive financial performance, value creation and global growth.
