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Saudi Arabia: Aramco in China deal

Source: 7Days 7/11/2005, Location: Middle East

Exxon Mobil, Saudi Aramco and top Asian refiner Sinopec have signed a $3.5 billion deal to expand a refinery in south China, sealing what they called the country's largest oil project.The deal gives Exxon, the world's top oil firm, and Middle Eastern giant Aramco a foothold in China's insular 6.2 million barrel-a-day (bpd) refining sector, now dominated by state giants Sinopec and PetroChina.

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