Saudi Arabia plans to build an oil refinery and petrochemicals plant in South Africa as part of $10 billion of investments in the country, Saudi Energy Minister Khalid al-Falih said on Friday after talks with his South African counterpart.
Sinopec Corp may have a hard time finding buyers for a multi-billion-dollar stock offering of its fuel marketing arm because of investor pushback against higher valuations amid tepid equity markets.
Russian-backed Indian refiner firm Nayara Energy said on Friday that it has signed a memorandum of understanding with the Gujarat state government to invest $850 million to build a new refinery and petrochemical plants.