Reuters: Saudi Aramco to buy $7 billion stake in Petronas' RAPID refinery project

As Reuters reports, "Saudi oil giant Aramco will buy an equity stake in Malaysian firm Petronas' major refining and petrochemical project, the companies said on Tuesday, pumping in $7 billion in its biggest downstream investment outside the kingdom.

The deal will boost Aramco's downstream business ahead of a planned initial public offering next year and also bolsters Malaysia's state-controlled Petroliam Nasional Bhd - known as Petronas - after it cut spending because of the slump in oil prices." Κάνοντας Like στο Facebook ενημερώνεστε άμεσα για τα νέα άρθρα -->