Saudi Aramco stated on Thursday that recent media reports on a potential Saudi Aramco- SABIC transaction are entirely speculative.
The oil giant added that it will provide updates when appropriate.
Saudi’s SABIC is a manufacturing company, active in petrochemicals, chemicals, industrial polymers, fertilizers, and metals.
Saudi Aramco had in July announced that it was in early discussion to acquiring a strategic share of SABIC through purchasing the Public Investment Funds’ share of its stock.
PIF owns nearly 70 percent of SABIC.
