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King Salman’s Asia tour to boost Aramco

SINGAPORE

Saudi King Salman’s tour of Asia had a hardnosed 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.

“Our strategy is about growth in the downstream,” said Amin Nasser, chief executive officer of state oil company Aramco.

Reuters