Saudi Aramco aims to invest up to $1.6 billion for about for up to 19.9% of Hyundai Oilbank from Hyundai Heavy Industries Holdings, which owns 91.13% of Hyundai Oilbank. The latter has 650,000 barrels per day of refining capacity in the southwestern city of Daesan and plans to expand its petrochemical business.
Aramco plans to investment more in refining and petrochemicals, in an attempt to limit its reliance on crude as demand for oil slows. For this reason, last year it announced plans to...
https://safety4sea.com/saudi-aramco-to-buy-20-stake-in-hhis-refining-subsidiary/