Saudi Aramco to acquire 10% stake in China’s Rongsheng Petrochemical
Saudi Aramco has signed definitive agreements to acquire a 10 percent stake in Shenzhen-listed Rongsheng Petrochemical Co. (Rongsheng) for $3.6 billion (24.6 billion Chinese Renminbi), fortifying its presence in China’s downstream sector. The Saudi oil major will supply 480,000 barrels per day (bpd) of Arabian crude oil to Rongsheng affiliate Zhejiang Petroleum and Chemical Co. […]
CyberArrow, Mobily to boost cyber security compliance in Saudi Arabia
CyberArrow, a leading cyber security compliance automation provider, and Mobily, a major telecommunications provider in Saudi Arabia, have tied up to enhance cyber security compliance and awareness for businesses in the kingdom. As cyber threats continue to increase in frequency and sophistication, it is crucial for businesses to ensure their data is protected and in […]
MBC Group in 3-year partnership with GMG food brands
MBC Group, a leading media company in the Middle East and North Africa (Mena), has announced a long-term licensing and media partnership with GMG, a global well-being company operating leading brands. To begin the partnership, Farm Fresh, the leading brand under the portfolio of GMG’s food brands will feature MBC Group’s beloved ‘Fananees’ characters on […]
Aramco JV to start work of $10bln petchem complex in China in Q2 2023
Saudi Aramco and joint venture partners NORINCO Group and Panjin Xincheng Industrial Group plan to start construction of an integrated refinery and petrochemical complex in northeast China. Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco (30 percent), NORINCO Group (51 percent) and Panjin Xincheng Industrial Group (19 percent), is developing the complex that […]