Saudi Aramco says in advanced talks to buy stakes in China refineries
20 Jan 2016 - 16:50
RIYADH: Saudi Aramco said on Wednesday it was in advanced talks to invest in refineries in China and the company was also in talks with CNPC and Sinopec for investment opportunities in refining, marketing and petrochemicals.
Saudi Aramco chairman Khalid al-Falih also told journalists on the sidelines of the official inauguration of Yasref, a joint venture refinery between Aramco and China’s Sinopec, that there may be opportunities for further expansion in Yanbu, including in “Yasref itself to build other phases a few years after getting profitable operations and getting income from the first phase.”
(Reporting by Rania El Gamal, writing by Sami Aboudi, Editing by William Maclean)