The Saudi Arabian Oil Company, Saudi Aramco, has announced the reorganisation of its downstream business to support and enhance integration across the hydrocarbon value chain and better position the company to drive financial performance, value creation and global growth
Petrochemicals
INEOS acquires BP’s global aromatics and acetyls business
Petrochemical company INEOS has announced its intention to purchase the global Aromatics and Acetyls businesses of BP for a consideration of US$5bn
Saudi Aramco completes acquisition of 70 per cent stake in SABIC
Oil company Saudi Aramco has completed the acquisition of a 70 per cent stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF), Saudi Arabias sovereign wealth fund
MENA countries score high in G20 low carbon project investment
According to a research report by Ashurst, G20 investors have shown a growing interest in the Middle East and North African (MENA) countries, especially for renewable energy, energy transition and decarbonisation technologies, contrary to their regional counterparts
McDermott wins technology contract for petrochemical company in Saudi Arabia
Engineering company McDermott International has won a technology contract by Advanced Global Investment Company, a wholly owned subsidiary of Advanced Petrochemical Co. (APC)
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