We are continuously seeking to enrich our chemicals product portfolio, and expand our business reach, while identifying and pursuing new ventures for long-term growth in the Chinese chemicals sector.
As part of this effort, Saudi Aramco acquired a 70% stake in SABIC in June 2020, transforming Aramco into a major player in petrochemicals, by increasing the proportion of petrochemicals production in its portfolio, creating further opportunities for growth across the hydrocarbon chain.
With SABIC, Aramco is working to commercialize innovative crude to chemicals technologies, and together we are pursuing selective integration synergies in procurement, supply chain, manufacturing, marketing, and sales, to drive efficiency and growth, meet customer needs, and create further value for customers and shareholders.