![Crude oil storage tanks stand at the oil refinery operated by Saudi Aramco in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. Saudi Aramco aims to become a global refiner and chemical maker, seeking to profit from parts of the oil industry where demand is growing the fastest while also underpinning the kingdom’s economic diversification. Photographer: Simon Dawson/Bloomberg](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/HYR52N77KYB4CX3WNV5N6JUINY.jpg?smart=true&auth=060caa146d9aafbbaa4f4d80a6168bc31408d08f2c9dbfd8c0da31fa3151a66c&width=400&height=225)
Saudi Aramco also plans to consolidate its downstream business under a separate, wholly-owned unit before 2024. Bloomberg
Saudi Aramco also plans to consolidate its downstream business under a separate, wholly-owned unit before 2024. Bloomberg
Aramco to reorganise downstream business to improve efficiency
The company completed its acquisition of a 70% stake in Sabic from the Public Investment Fund last month