{"id":49467,"date":"2025-10-11T19:12:34","date_gmt":"2025-10-11T16:12:34","guid":{"rendered":"https:\/\/thesauditimes.net\/en\/?p=49467"},"modified":"2025-10-11T19:12:34","modified_gmt":"2025-10-11T16:12:34","slug":"aramco-raises-petro-rabigh-stake-to-60-in-702-million-deal-with-sumitomo","status":"publish","type":"post","link":"https:\/\/thesauditimes.net\/en\/aramco-raises-petro-rabigh-stake-to-60-in-702-million-deal-with-sumitomo\/","title":{"rendered":"Aramco Raises Petro Rabigh Stake to 60% in $702 Million Deal with Sumitomo"},"content":{"rendered":"<p>Saudi Aramco has increased its ownership in Petro Rabigh to 60 percent following a $702 million deal with Japan\u2019s Sumitomo Chemical, strengthening its position in the Kingdom\u2019s refining and petrochemical industries.<\/p>\n<p>The transaction is part of Aramco\u2019s broader strategy to enhance downstream integration, expand its footprint in chemicals and conversion technologies, and accelerate value creation across its global energy portfolio.<\/p>\n<p>Aramco stated that the acquisition aligns with its commitment to support Saudi Arabia\u2019s Vision 2030, by fostering industrial growth, local content development, and economic diversification.<\/p>\n<p>The move builds upon Aramco\u2019s longstanding partnership with Sumitomo, which began in 2005 with the establishment of Rabigh Refining and Petrochemical Co. (Petro Rabigh) as a joint venture.<\/p>\n<p>Through this acquisition, Aramco aims to unlock new opportunities in advanced petrochemicals and sustainable materials, reinforcing its leadership in integrated energy and industrial innovation.<\/p>\n<p>The deal further cements Aramco\u2019s role as a key player in the global energy transition, advancing its mission to deliver sustainable growth, innovation, and long-term value for the Kingdom\u2019s economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Aramco has increased its ownership in Petro Rabigh to 60 percent following a $702 million deal with Japan\u2019s Sumitomo Chemical, strengthening its position in the Kingdom\u2019s refining and petrochemical industries. The transaction is part of Aramco\u2019s broader strategy to enhance downstream integration, expand its footprint in chemicals and conversion technologies, and accelerate value creation across its global energy portfolio. Aramco stated that the acquisition aligns with its commitment to support Saudi Arabia\u2019s Vision 2030, by fostering industrial growth, local content development, and economic diversification. The move builds upon Aramco\u2019s longstanding partnership with Sumitomo, which began in 2005 with the<\/p>\n","protected":false},"author":1,"featured_media":49468,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_focuskw":"Aramco Raises Petro Rabigh","_yoast_wpseo_metadesc":"Aramco Raises Petro Rabigh Stake to 60% in $702 Million Deal with Sumitomo .. 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