Saudi Aramco discusses acquiring a 10% stake in Chinese refiner Hengli Petrochemical for $1.5B, aligning with its strategy to expand downstream presence in high-value markets.

Saudi Aramco is in discussions to acquire a 10% stake in Chinese refiner Hengli Petrochemical, worth approximately $1.5 billion. This deal aligns with Aramco's strategy to expand its downstream presence in high-value markets. The acquisition supports Aramco's strategy to increase its global footprint and strengthen ties with key markets, such as China, its most important export market.