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Saudi Aramco increases its stake in China’s Downstream Value Chain - more to come?
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Summary
Saudi Aramco recently announced two major downstream deals to expand its presence in China. The company agreed to acquire a 10% interest in Rongsheng Petrochemical and planned to restart the construction of the Panjin integrated petrochemical plant through its HAPCO joint venture. The deals will see Saudi Aramco supply a total of up to 690 kb/d of crude over the long term to high chemical conversation assets. In this insight, we explore why it is a strategic move and do we expect more similar deals to emerge? What are the implications on the crude trade? We answer these questions with Wood Mackenzie's Crude Trade Service, Russia Waterborne Crude Service and REM-Chemicals service.
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Saudi Aramco increases its stake in China’s Downstream Value Chain - more to come?
