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Investment Summary

Aramco Invests In Rongsheng

On March 27, 2023, Aramco invested in oil/gas exploration company Rongsheng

Investment Highlights
  • This is Aramco’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Aramco’s 1st transaction in China.

Investment Summary
Date 2023-03-27
Target Rongsheng
Sector Oil/Gas Exploration
Investor(s) Aramco
Deal Type Stake Purchase

Target

Rongsheng

Hangzhou City, China
Rongsheng is principally engaged in the research, development, manufacturing, and distribution of refining products, petrochemicals, and chemical fibers. The company has an annual production capability of 2 million tons of aromatic hydrocarbon, over 13 million tons of pure terephthalic acid (PTA), 2 million tons of PET, 1 million tons of POY and FDY, 0.45 million tons of DTY. Rongsheng was founded in 2007 and is based in Hangzhou, China.

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Investor(S) 1

Investor

Aramco

Dhahran, Saudi Arabia
Category Company
Founded 1933
Sector Oil/Gas Exploration
Employees54,041
DESCRIPTION
Aramco office in downtown Houston, Texas.
Aramco office in downtown Houston, Texas.

Aramco operates as an integrated energy and chemical company in Saudi Arabia and internationally. Aramco was founded in 1933 and is headquartered in Dhahran, Saudi Arabia.

DEAL STATS #
Overall 4 of 8
Sector: Oil/Gas Exploration M&A 1 of 3
Type: Stake Purchase M&A Deals 1 of 3
Country: China M&A 1 of 1
Year: 2023 M&A 1 of 3
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