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In "Huge" Chinese Push By Aramco, World's Biggest Oil Producer Will Build $10BN Petrochemical Complex, Buy 10% Stake In Top Chinese Refinery
In what has been dubbed a "HUGE push" by the Saudi state-owned petrochemical giant into China's economy, Saudi Aramco surprised the world with a double-header of pro-China news: first, Aramco said it will build a $10 billion refinery in China and, just hours later, it revealed that it would acquire a stake a 10% stake in a Top Chinese oil refinery. tweet The news come as Saudi Arabia is on the verge of dethroning the petrodollar and accepting payment in Yuan for Chinese oil sales. Let's dig deeper. Over the weekend, Saudi Aramco - world’s biggest oil producer - announced plans to build a $10-billion refining ... (full story)