Saudi Aramco acquires lubricant giant Valvoline

Aramco has been investing in futuristic technology amid high oil prices and profits.
A picture taken on March 12, 2020, shows the logo of energy giant Saudi Aramco at the entrance of its main building in Riyadh.
A picture taken on March 12, 2020, shows the logo of energy giant Saudi Aramco at the entrance of its main building in Riyadh. - FAYEZ NURELDINE/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Saudi Arabia’s state oil company Aramco announced a major acquisition yesterday. 

Aramco agreed to buy the global products division of the American company Valvoline for $2.65 billion. The acquisition is pending until unspecified "customary adjustments” are made, Aramco said in a press release. 

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.

Videos

See more