With an aim to expand its downstream presence in China, Aramco has acquired a 10 % stake in Rongsheng Petrochemical Co. Under a long-term sales agreement, Aramco will supply 480,000 barrels per day of Arabian crude oil to Rongsheng affiliate Zhejiang Petroleum and Chemical Co. and Aramco Overseas Company, a wholly-owned subsidiary of Aramco, will acquire the interest in Rongsheng.
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