Saudi Aramco is already the world’s largest integrated oil and gas company. While it has been integrating petrochemicals plants in recent years to squeeze more value from its refined products and ethane, the Riyadh-decreed Aramco purchase of the government-held 70% stake in giant conglomerate Sabic will also make it one of the biggest players in chemicals.
In the 9 November prospectus for Aramco’s 5 December IPO (MEES, 15 November), Aramco says that its $69.1bn purchase of Sabic shares will make it the world’s leading net producer of ethylene with operations in over 50 countries. (CONTINUED - 732 WORDS)
