{"id":117886,"date":"2024-04-22T00:00:00","date_gmt":"2024-04-22T00:00:00","guid":{"rendered":"http:\/\/jordannewsgazette.com\/?guid=46f9661d825b2102107e65743e95e0b1"},"modified":"2024-04-22T00:00:00","modified_gmt":"2024-04-22T00:00:00","slug":"aramco-in-talks-to-acquire-10-stake-in-chinese-company-hengli-petrochemical","status":"publish","type":"post","link":"https:\/\/jordannewsgazette.com\/aramco-in-talks-to-acquire-10-stake-in-chinese-company-hengli-petrochemical\/","title":{"rendered":"Aramco in Talks to Acquire 10% Stake in Chinese Company Hengli Petrochemical"},"content":{"rendered":"
\nDhahran, Aramco, one of the world’s leading integrated energy and chemicals companies, said in a statement issued today that it has entered into discussions with Hengli Group Co., Ltd. (Hengli Group) regarding the potential acquisition of a 10% stake in Hengli Petrochemical Co., Ltd. (Hengli Petrochemical), subject to due diligence and required regulatory clearances.<\/p>\n
Aramco and Hengli Group today signed a memorandum of understanding regarding the proposed transaction, which “aligns with Aramco’s strategy to expand its downstream presence in key high-value markets, advance its liquids-to-chemicals program, and secure long-term crude oil supply agreements”.<\/p>\n
Hengli Petrochemical, a controlled subsidiary of Hengli Group, owns and operates a 400,000 barrel per day refinery and integrated chemicals complex in Liaoning Province, China, and several plants and production facilities in Jiangsu and Guangdong Provinces.<\/p>\n
Aramco Downstream President Mohammed Al Qahtani said: “This MoU supports our efforts to grow our gl
\nobal downstream footprint. We continue to explore new opportunities in important markets, as we seek to progress in our liquids-to-chemicals strategy. We look forward to forging new partnerships and are excited by the prospect of expanding our presence in the important Chinese market.”<\/p>\n
Source: Saudi Press Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
Dhahran, Aramco, one of the world’s leading integrated energy and chemicals companies, said in a statement issued today that it has entered into discussions with Hengli Group Co., Ltd. (Hengli Group) regarding the potential acquisition of a 10% stake …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"yoast_head":"\n