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Issue 6/2018 - SIBUR intends to form a joint venture with Saudi Aramco

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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Recently, Russian petrochemical group Sibur is in talks
with Saudi Aramco to form a joint venture to produce synthetic rubber.

The move underscores the growing partnership between Saudi Arabia and Russia, with the agreement between OPEC and Russia opening the door to political dialogue and encouraging negotiations
on broader bilateral investments in the energy sector, the Russian chief said.

Dmitry Konov, Chairman of the Management Board of Sibur, said: "Due to the low utilization rate of raw materials in Russia and the low growth of domestic demand, Sibur is looking for a way
to export its synthetic rubber technology.
The joint venture requires technology that Sibur or Saudi Aramco does not have, so it may involve other companies
.
”

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