Saudi Aramco has completed the acquisition of an additional 22.5% stake in its joint venture, Petro Rabigh, from Japan’s Sumitomo Chemical Corporation for SAR 2.63 billion (approximately $701.8 million). This move raises Aramco’s ownership in Petro Rabigh to approximately 60%, solidifying its position as the largest shareholder, while Sumitomo retains a 15% stake. The transaction … Continue reading Aramco Increases Stake in Petro Rabigh to 60% in $702 Million Deal