69736
Aramco Eyes Stake in PetroChina Refinery
Energy

Aramco Eyes Stake in PetroChina Refinery

Saudi Aramco is negotiating a deal to buy a stake of more than 30% in a 260,000-bpd refinery in China owned by state firm PetroChina, in a transaction valued at up to $2 billion, Oil Price reported, quoting people familiar with the talks. According to one of the people, Saudi Arabia could provide some of the crude oil for the refinery in Yunnan Province, and could also buy some of the retail assets of PetroChina. Aramco and PetroChina have been discussing for years plans for Saudi Arabia to provide crude to a PetroChina refinery in exchange for a stake in the plant, but no deal has been sealed yet. Back in 2011, Saudi Aramco said it had signed a memorandum of understanding to provide up to 200,000 bpd of Arabian crude oil via a long-term contract to the PetroChina refinery in Yunnan, which was then in the planning stage.

 

Short URL : https://goo.gl/hwuiS4
  1. https://goo.gl/mcheQW
  • https://goo.gl/W2vG9z
  • https://goo.gl/2p5vsd
  • https://goo.gl/3X4rwK
  • https://goo.gl/kTce6N

You can also read ...

Shell in Talks to Sell $2b Worth of Nigeria Assets
Royal Dutch Shell Plc is in talks to sell two Nigerian oil...
Germany Suggests India Continue Iran Oil Imports
Speaking to Indian TV, Germany voiced hope that India would...
Japan Will Face Higher Gasoline Prices After Halting Iranian Crude Purchase
Japan’s major oil distributors are considering halting oil...
Argentina to Export Natural Gas to Chile
Argentina will begin exporting natural gas to Chile from...
Egypt Hikes Gas Price by 75%
Egypt said on Saturday it was raising the price of natural gas...
Cheap Fossil Fuels Hinder Renewables Development
The key factor hindering renewable energy development in Iran...
NIDC Indigenizes  Eco-Friendly Well Test Burner
The National Iranian Drilling Company's experts have designed...
NPC Earns $3b in Q1
The National Petrochemical Company earned $3.1 billion in...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus