Saudi Aramco to set up JV with two Chinese firms in $10b refinery deal

An employee inspects oil transport pipes at the Juaymah tank farm at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia. Photographer: Simon Dawson/Bloomberg

Saudi Arabia reaffirmed its interest in the Chinese market with a deal to build a $10 billion oil-refining complex, as it seeks to fend off competition for crude sales from fellow OPEC members and Russia.

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