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Aramco Invites Sinopec As IPO Investor, Says Chinese Energy Major

by thenational.ae posted 1year ago 490 views
<p>China&rsquo;s oil and gas major Sinopec said it has been invited to invest in Aramco as part of what could be the world&rsquo;s biggest-ever initial public offering.</p> <p>Talks are ongoing between the companies, Wang Yupu, the chairman of the Chinese refiner, said on Monday. During a visit to China this month, Aramco&rsquo;s chief executive Amin Nasser told officials he hoped the Chinese company could invest in the listing, Mr Wang said.</p> <div> <ul> </ul> </div> <p>Saudi Arabia is preparing for the flotation by deepening relationships with its biggest buyers and locking in future demand for its oil. King Salman bin Abdulaziz led a Saudi delegation to Asia this month that saw the Middle East explorer pledge at least US$13 billion worth of investments in refining projects.</p>