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Wednesday, April 30, 2025 4:15 GMT
China's state-run Sinopec said on Monday it had signed an agreement with a unit of Saudi Aramco to establish a joint venture company with a registered capital of 28.80 billion yuan (US$3.9 billion). The agreement was signed by Sinopec, its unit Fujian Petroleum Chemical Industry Co, and Saudi Aramco's Singaporean unit Aramco Asia Singapore Pte. (AAS). Sinopec and its unit shall contribute 7.2-14.4 billion yuans (US$1-US$1.9 billion) in cash, respectively. The remaining amount, representing 25%...More