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Running head: STRATEGIC PLANNING 1 Strategic Planning Name Course Institution Date
STRATEGIC PLANNING 2 Strategic Planning The Aramco Group announced a profitable completion, with a total price equivalent to Sar 123.39, of a total purchasing price of SAR 259,125 billion (US$ 69,1 billion), of a 70 percent share acquisition in the Public Investment Fund (PIF) of Saudi Arabia Sovereign Wealth Fund (SSBIC). The deal completion improves Aramco's position in the global petrochemical market. This field is projected to record the most rapid increase in oil demand in the years ahead. Combined, Aramco and Sabic produced almost 90 million tonnes, including agri-nutrients and specialty products, for 2019 petrochemicals production volumes (Weijermars & Moeller, 2020). The SABIC acquisition is in line with Aramco's long-term plan for the refining and petrochemical integration of the whole Hydrocarbon chain and generates value. It also enhances procurement, supply chain, manufacturing, marketing, and sales (Fidler et al., 2019). SABIC

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