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Saudi Aramco, CNPC Negotiating Refinery Construction Contract

Posted by August 31, 2016

Saudi Aramco is in advanced negotiations with China National Petroleum Corporation (CNPC) to build the Yunnan refinery in China, its chairman said on Al Arabiya TV on Wednesday.

Khalid al-Falih, who is also Saudi Arabia's energy minister, said: "We hope to reach an agreement this year."

The minister added that he is optimistic on demand for oil.

Reporting by Reem Shamseddine

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