Saudi Arabian Oil Co., energy giant that may be set to become the largest listed company in the world after the planned initial public offering, is negotiating to invest up to $2 billion in a facility controlled by PetroChina Co., the Wall Street Journal learned, according to an article published on Friday. The Anning refinery in Yunnan in the southwest of the most populous nation has capacity of 260,000 barrels of oil per day, the report notes.
Sources told the news outlet that Aramco, the utility owned by the government in Riyadh, is eyeing a stake of above 30%, but that the outcome of the talks is uncertain.
