Saudi in upcoming Russia deals: reports

MOSCOW, September 28, 2017 – Saudi King Salman bin Abdulaziz Al Saud’s visit to Moscow next week is expected to result in several important energy MoUs, international media reported late Wednesday.

Russia’s petrochemical giant Sibur is to explore the possibility of building petrochemical units in the two countries together with Saudi Aramco and Saudi Basic Industries Corporation, an anonymous industry source told Reuters. In a separate report Tuesday, Bloomberg had noted that the main focus of these talks was a JV for the production of synthetic rubber in Saudi Arabia.

Aramco is also expected to explore gas investments together with Russia’s Novatek, Reuters said. Renewable energy deals and nuclear agreements could also be on the table, the report added.

The news came as Aramco Trading Company prepared to start trading crude oil of non-Saudi origin to optimise supplies to Aramco’s foreign JVs, a separate Reuters report on Wednesday claimed.

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