Saudi Aramco to invest $80 billion in overseas acquisitions
The company is mainly focused on expanding its refining and petrochemical businesses in Asian countries, especially China and South Korea, in order to improve ties with Asian markets and become the world’s largest oil and chemical producer by the end of 2020.
The company signed a $10 billion loan with 27 different financial institutions in March that could be used to fund future acquisitions.
Last year, Aramco reportedly bought a stake in South Korea’s S-Oil worth around $2 billion.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- European PP retains strength under shadow of arriving imports
- Will PVC prices ever come back to the pre-pandemic levels?
- Global petchem companies’ profits surge in Q1
- Polymer demand takes a heavy knock from deepening COVID crisis in India
- Stats: Turkey’s polymer imports rise to fresh records in Q1
- HDPE set to reach a plateau in Europe, LDPE fares better
- Bearish PP trend takes no respite on lackluster demand in Turkey
- India import PVC market recedes from all-time high on COVID-hit demand
- Stats: China’s total PP, PE imports in Q1 mark lowest volume in a year
- Vietnamese PE buyers hold off purchases on fears of further price pullback