Riyadh-Mubasher: Saudi Aramco is in talks to acquire a stake in a refinery of China National Petroleum Corp (CNPC) as well as retail assets, Reuters reported citing people familiar with the matter.
They added that the deal is estimated at nearly $1-1.5 billion, although final valuations, assets and stakes are subject to change.
The world’s largest oil exporter hired Deutsche Bank AG to advise on the potential acquisition, Bloomberg reported.
Source:
Mubasher