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Saudi Arabia: Aramco steps up activity ahead of planned IPO

Saudi Aramco has been setting a fast deal-making pace in recent weeks, as the state oil giant continues to make preparations for its controversial stock market listing.On 20 May, Saudi Aramco announced up to $30bn of investment into Motiva Enterprises, the US refinery operation in Port Arthur, Texas which it recently acquired full control of. The investment includes $12bn now and up to $18bn more by 2023.

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