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FinancialNews
20-01-19
Saudi Arabia, S. Africa ink deal on oil refinery set up
(MENAFN) Saudi Arabia inked a memorandum of understanding with South Africa on the set up of an oil refinery and a petrochemical complex.
Under the MoU, the projects will be launched in South Africa under the management of Saudi Aramco and the South African National Oil.
The purpose behind the agreement is for the two sides to see deeper cooperation and closer ties in various areas, including exploration, production, refining, storage, and marketing.
The deal further indicates the power of relations between the two countries in trade, economy and politics, as they look to bolster them even more.
MENAFN2001201900450000ID1097998203
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