Is SABIC part of Aramco?

On March 27, 2019, SABIC announced that state-owned energy company Saudi Aramco signed a share purchase agreement to acquire a 70% majority stake in SABIC from the Public Investment Fund of Saudi Arabia in a private transaction worth $69.1 billion.

What is Aramco SABIC?

SABIC will focus on petrochemicals and Aramco Trading Company will focus on fuel products. Changes reflect that SABIC is now the chemicals arm of Aramco, in line with long-term strategy. Together, Aramco Trading Company and SABIC are focused on providing a world-class products and services offering to global customers.

When did Aramco buy SABIC?

RIYADH/DUBAI (Reuters) – State-owned Saudi Aramco 2222.SE bought 2.1 billion shares of Saudi Basic Industries (SABIC) 2010.SE on the stock market on Sunday as it completed its deal agreed last year to buy 70% of the petrochemical giant, according to sources and market data.

Who is buying SABIC?

Saudi Aramco
Saudi Aramco completed the purchase of its 70% stake in the kingdom’s petrochemical giant Sabic from the Saudi Public Investment Fund, one of the largest ever deals in the global chemical industry.

Who is the CEO of Aramco?

Amin H. Nasser (Sep 2015–)
Saudi Aramco/CEO

Amin H. Nasser is the president and chief executive officer of Saudi Aramco, the world’s leading integrated energy and chemicals enterprise, and the largest provider of crude oil to global markets. He is also a member of the company’s Board of Directors.

Why did Saudi Aramco acquire SABIC?

Closing on the merger this June, Saudi Aramco officially acquired a 70 percent stake in SABIC on the Tadawul stock exchange in Riyadh. This acquisition aligns with Saudi Aramco’s goal to develop its downstream activities and diversify its sources of income away from the production of crude oil.

What is the net worth of Saudi Aramco?

Saudi Aramco

Headquarters in Dhahran, Eastern Province, Saudi Arabia
Net income US$49.0 billion (2020)
Total assets US$510.4 billion (2020)
Total equity US$264.2 billion (2020)
Owner Government of Saudi Arabia (98.5%)

Who is owner of Saudi Aramco?

Saudi Aramco is currently led by Amin H. Nasser, its president and CEO. Yasir Al-Rumayyan is the Chair of the company.

Who runs Saudi Aramco?

Who is richest company in the world?

American retail corporation Walmart has been the world’s largest company by revenue since 2014….List.

Rank 1
Name Walmart
Industry Retail
Revenue USD Millions $559,151
Profit $13,600