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Sat 21 May 2016 05:34 PM

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Saudi Aramco and SABIC say no plans to merge petrochems

Companies issue joint statement to refute claims about possible merger made in media

Saudi Aramco and SABIC say no plans to merge petrochems
KSA energy

National oil giant Saudi Aramco and Saudi Basic Industries Corp denied on Saturday they had any plans to merge their petrochemicals businesses after media reports on the possibility.

"The companies wish to clarify that they have no plans to pursue this option," they said in a joint statement.

"Both companies will continue to explore mutually beneficial opportunities to work together as partners and contribute to the continued growth and diversification of the kingdom's economy."

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