Saudi Aramco to acquire a 10% stake in China's Rongsheng refinery for $3.6b

Saudi Aramco to acquire a 10% stake in China's Rongsheng refinery for $3.6b

A Saudi Arabian Oil Co. (Aramco) logo sits on an electronic display at the company's corporate pavilion during the 22nd World Petroleum Congress in Istanbul, Turkey, on Wednesday, July 12, 2017. Photographer: Kostas Tsironis/Bloomberg Photo by Bloomberg

Saudi Arabian oil giant Aramco has signed definitive agreements to acquire a 10% stake in Shenzhen-listed Rongsheng Petrochemical for 24.6 billion yuan ($3.6 billion) to expand its downstream presence in China.

Edited by: Pramod Mathew