EnergySource
Jun 24, 2020
Rapid response: The SABIC-Aramco merger
By
Private: Jean-François Seznec
Saudi Aramco’s acquisition of the Saudi Basic Industries Corporation (SABIC) finalized on June 16, 2020, provides a window into the Saudi strategy to become a world-scale chemicals producer. However, the structure of the deal also offers an interesting look into the Saudi financial position amid low oil prices and a global pandemic.