Advertisement
Singapore markets close in 3 hours 38 minutes

  • Straits Times Index

    3,168.92
    -18.74 (-0.59%)
     

  • Nikkei

    37,084.62
    -995.08 (-2.61%)
     

  • Hang Seng

    16,216.04
    -169.83 (-1.04%)
     

  • FTSE 100

    7,877.05
    +29.06 (+0.37%)
     

  • Bitcoin USD

    62,004.84
    +322.81 (+0.52%)
     

  • CMC Crypto 200

    1,286.91
    +401.37 (+44.10%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,396.30
    -1.70 (-0.07%)
     

  • Crude Oil

    84.44
    +1.71 (+2.07%)
     

  • 10-Yr Bond

    4.6470
    +0.0620 (+1.35%)
     

  • FTSE Bursa Malaysia

    1,551.42
    +6.66 (+0.43%)
     

  • Jakarta Composite Index

    7,063.10
    -103.72 (-1.45%)
     

  • PSE Index

    6,418.38
    -104.81 (-1.61%)
     

Saudi Aramco says to invest in refinery-petrochemical project in east China

Reuters
The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia May 23, 2018. REUTERS/Ahmed Jadallah (Reuters)

ZHOUSHAN, China (Reuters) - State oil giant Saudi Aramco <IPO-ARMO.SE> plans to ink an agreement later on Thursday to take a stake in a refinery-petrochemical project in eastern China, a senior official said on Thursday.

"We will have a signing ceremony later today with the Zhejiang government to invest in the Zhejiang refinery-petrochemical project," Aramco's Senior Vice President of Downstream, Abdulaziz al-Judaimi told an industry event.

Last month, Saudi Aramco signed a long-term deal with the project's operator Zhejiang Rongsheng to supply crude oil.

Zhejiang Petrochemical, 51 percent owned by textile giant Rongsheng Holding Group, plans to start its 400,000-barrels-per-day refinery-petrochemical project in eastern China in late 2018.

(Reporting by Meng Meng and Florence Tan; editing by Richard Pullin)