13 November 2012 17:32 [Source: ICIS news]
LONDON (ICIS)--Saudi Aramco has established a new regional headquarters in Asia by setting up a new subsidiary - known as Aramco Asia - in Beijing, China, the Middle Eastern oil giant said on Tuesday.
“Our new Asia office here in Beijing will be a hub for facilitating our joint activities in general and in particular investment and other business opportunities arising from the capital projects in Saudi Arabia and Asia,” said Saudi Aramco senior vice president, downstream, Abdulrahman Al Wuhaib.
Aramco Asia currently manages its parent company’s interests in the Fujian Refining and Petrochemical Company (FRPC) and Sinopec SenMei Petroleum Company joint ventures. Sinopec and ExxonMobil also have stakes in both businesses.
“Aramco Asia brings together our business operations in this fast-growing region under one entity and be unified in carrying out Saudi Aramco’s vision and strategy for Asia,” said.
The new entity will focus on crude oil and chemicals marketing in Asia, as well as joint venture coordination, research and development, procurement, project management and inspection, the company said. The Beijing office will be backed by two support offices, in Shanghai and Xiamen.
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