Saudi Aramco’s acquisition of petrochemical maker SABIC will accelerate the company’s downstream strategy and transform it into a global petrochemical player, an official of the state oil giant told al-Arabiya TV.
“We expect long-term demand for petrochemicals to grow, with the sector expected to record the fastest growth in oil demand to 2040,” said Abdulaziz al-Gudaimi, a senior vice president at Aramco.
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