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Aramco's discussions with the Public Investment Fund to acquire a strategic stake in SABIC, a global petrochemical giant, translate the translation of the company's plan several years ago to switch from energy production to energy and petrochemicals. This supports the company's strategy of converting 2 to 3 million barrels of oil into chemical industries, increasing the added value of each barrel, diversifying revenue streams and ensuring a long-term source of oil marketing. outside the transport sector. Positive in terms of climate change, because the end use of oil in chemicals rather than fuels helps to reduce carbon emissions. Over the next 20 to 25 years, the transport sector will undergo strategic changes in electric cars, as will the demand for conventional oil: statistics indicate that the Kingdom consumes about 1 million barrels a day in transport, out of a total of 2.6 million barrels consumed.
The Benefits of Transformation
The shift to investment in the petrochemical industry brings many benefits to Aramco:
2-Quata Chemicals increase by about 3%, faster than the growth rate of the global economy or the total demand for fuel.
Announcements
4. All of Aramco's worldwide refining projects include the conversion of a large proportion of crude oil into chemicals, such as joint ventures in India and Malaysia, as well as future investments of Motiva in the United States.
Aramco has developed in recent years Li has developed in the field of chemistry through two new routes, Sadara and Petro Rabigh, and purchase and sale operations as the 50% acquisition of the German company Lanxis two years ago.
The potential acquisition of a strategic stake in SABIC Saudi Arabia, the third largest company in the world with Saudi Aramco, has a distinguished relationship since its inception. About a year and a half ago, a joint venture with SABIC, with a capacity of 400,000 barrels a day to convert oil into chemicals, announced its investment in a technical project that would make a leap forward from 70 to 80%. The potential agreement with SABIC is expected to strengthen Aramco's competitive position by balancing fluctuations between exploration and production sector revenues and refining and chemical revenues. It is well known that revenues from the exploration and production sector are negatively affected by the decline in international oil prices, while refining and chemicals are performing well. Shares of 385 billion riyals after the share has risen by 30 percent since the beginning of this year, and its profits last year about 18 billion riyals. The Saudi public investment fund holds 70% of SABIC and the Social Insurance Institute, 5.7%, and the rest is distributed to institutions and individuals with a market value.
The language of numbers reflects the power of SABIC © 1945-1900
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