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China's Sinopec, Saudi Aramco unit set up $4b JV

China's Sinopec, Saudi Aramco unit set up $4b JV

A man stands next to a logo of Sinopec, or China Petroleum and Chemical Corporation, at an expo on rubber technology in Shanghai, China September 19, 2018. Picture taken September 19, 2018. REUTERS/Stringer ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT.

China’s state-run Sinopec said on Monday it had signed an agreement with a unit of Saudi Aramco to establish a joint venture company with a registered capital of 28.80 billion yuan ($3.95 billion).

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