[ad_1]
Saudi Aramco's chairman, Amin Al-Nasser, confirmed that the company was at a very early stage of discussions with the Public Investment Fund on the acquisition of a strategic stake in SABIC, and that the agreement is still uncertain. Another acquisition.
Aramco 's strategic transformation program, launched by the company in 2011, aimed to turn the company, the world' s largest energy company, into a leading company in the field of business. energy and chemicals.
With regard to chemicals, there are two alternatives He explained that Aramco's strategy was to rebalance its group of activities that, in recent decades, has concentrated on oil and gas production to develop significantly in refining, processing, marketing and chemicals. This includes many benefits of integration, growth, value-added and diversification of revenue sources.
The chemicals sector is growing 3% faster than the global economy or total fuel demand and will increase by 50% over the next 25 years. "Investment in chemicals is one way to support our refining and marketing business, which is also growing."
He said: "In the long run, we are seeking to convert 2 million to 3 million barrels of chemicals, each barrel has diversified sources of income, providing a source for marketing our production. beyond the transport sector and create a positive impact on climate change, because the end use of oil in chemicals rather than in hydrocarbons helps to reduce carbon emissions.
In line with its strategies , and in this context, the potential acquisition of a strategic stake in SABIC, Saudi's most prestigious company in the world, is the third largest in the world and has been associated with Aramco since its inception.
Source link
