Saudi Arabian Oil Company (Saudi Aramco) restarted talks about a joint venture that plans to build an oil-refining and petrochemical complex valued at $10 billion in Liaoning province, China, according to an S&P Global Platts report released on Wednesday.
The new discussions are in the early stages, specifics about any potential deal are unknown and the project is still not close to being confirmed, sources briefed on the matter told the media outlet.
After the coronavirus pandemic hit the global oil market in 2020, Aramco withdrew from the deal first reached in February 2019.
