In “Huge” Chinese Push By Aramco, World’s Biggest Oil Producer Will Build $10BN Petrochemical Complex, Buy 10% Stake In Top Chinese Refinery
In what has been dubbed a “HUGE push” by the Saudi state-owned petrochemical giant into China’s economy, Saudi Aramco surprised the world with a double-header of pro-China news: first, Aramco said it will build a $10 billion refinery in China and, just hours later, it revealed that it would acquire a stake a 10% stake in a Top Chinese oil refinery.
The news come as Saudi Arabia is on the verge of dethroning the petrodollar and accepting payment in Yuan for Chinese oil sales.
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