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Saudi king's Asia tour signals Aramco's move downstream
Trip also seen as being part of a state policy to diversify the economy beyond crude exports, as Opec loses its grip
Add BT as a preferred sourcePublished Mon, Mar 20, 2017 · 09:50 PM
Singapore
SAUDI King Salman's lavish tour of Asia, arriving in each country on a golden escalator with 400 tonnes of luggage, had a hard-nosed marketing mission - to cement the kingdom's place as leading oil supplier to the world's biggest consumer region.
The string of deals inked on his three-week tour to Malaysia, Indonesia, Japan and China also point to a fresh strategy, one to increase Saudi leverage over refined product and petrochemical markets, known as the downstream sector.
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