Aramco and ADNOC Look To Seize More Market Share in Asia

As Asia is driving almost all of the global oil demand growth today and is set to continue to do so in the coming decades, some of the world’s biggest oil producers, those in the Middle East, are looking to expand their presence in the key demand growth market. Saudi oil giant Aramco and Abu Dhabi’s ADNOC plan to expand their downstream businesses, especially in Asia, to lock in future demand for their crude in the petrochemicals sector. Over the past two years, Saudi Arabia has announced a flurry of downstream deals in Asia, including…