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Russia鈥檚 Sibur, Saudi Aramco agree to explore possible cooperation

Russia鈥檚 Sibur, Saudi Aramco agree to explore possible cooperation
The plan to float around 5 percent of Aramco in an initial public offering in 2018 is on track, Saudi Aramco鈥檚 Chief Executive Amin Nasser said at an energy forum in Moscow. (Reuters)
Updated 05 October 2017

Russia鈥檚 Sibur, Saudi Aramco agree to explore possible cooperation

Russia鈥檚 Sibur, Saudi Aramco agree to explore possible cooperation

MOSCOW: Sibur, Russia鈥檚 largest producer of petrochemicals, and Russian state investment fund RDIF on Thursday signed a memorandum of understanding with energy company Saudi Aramco to exploit possible cooperation in Russia and 海角直播.
The companies plan to evaluate the potential of the petrochemical markets of both countries and consider the possibility of expanding cooperation, Sibur said in a statement.
鈥淭he partnership with one of 海角直播鈥檚 biggest petrochemical companies will allow Sibur to develop its expertise and sales areas and to study ; the Middle East market,鈥 Sibur Chairman Dmitry Konov said.
Russian Energy Minister Alexander Novak was quoted as saying on Wednesday that Sibur would sign a $1.1 billion (SR4.12 billion) agreement to build a gas chemical plant in 海角直播.