RIYADH: Saudi Aramco has signed a provisional acquisition agreement for a 10 percent stake in Chinese firm Shandong Yulong Petrochemical. 

The potential deal would advance the energy giant’s global downstream expansion, and comes in the wake of similar memorandums of understanding signed with companies in the Asian country.

Shandong Yulong is presently in the final stages of constructing a refining and petrochemicals complex in Longkou, Yantai City, in Shandong Province, China. 

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