Sumitomo Chemical to Lower Stake in JV with Saudi Aramco
Tokyo, Aug. 8 (Jiji Press)--Japan's Sumitomo Chemical Co. has said it will sell a stake of 22.5 pct in its oil refining and petrochemical joint venture with state-owned Saudi Arabian Oil Co., or Saudi Aramco.
Sumitomo Chemical expects some 100 billion yen in proceeds from the sale of shares in Rabigh Refining and Petrochemical Co., known as Petro Rabigh, and plans to inject the money entirely into the joint venture, according to an announcement Wednesday.
(2024/08/08-11:04)
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