Middle East Economic Survey
Saudi Aramco Seeks Stake In New Chinese Refinery
Negotiations are taking place between Saudi Aramco and China Petroleum and Chemical Corp (Sinopec), Chinas state-owned energy company, on the formers participation in a proposed $1.2bn refinery near the city of Qingdao in Shandong province. Industry sources say Saudi Aramco is prepared to guarantee crude supplies to the 200,000 b/d refinery in return for a 20-40% stake. Current...