The agreement, valued at EUR 1.5 billion, will see Aramco increase its stake in Arlanxeo to 100%. It is expected to close by the end of 2018.
“The proposed purchase underscores Saudi Aramco’s strategy to further diversify our downstream portfolio and strengthen our capabilities across the entire petroleum and chemicals value chain,” Abdulaziz Al Judaimi, the NOC’s vice-president for downstream, said. “Notably the acquisition will accelerate our growth into C4-based chemicals including butadiene and isobutylene.”
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
Azule Energy and Rhino Resources will enter a strategic farm-in agreement for Block 2914A located in Namibia's offshore Orange Basin,… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
SLB OneSubsea and Subsea7 have signed a long-term strategic collaboration agreement with Equinor and begun work on two of its… Read More
This website uses cookies.