Saudi Aramco in early talks with Valvoline to acquire its lubricants business: Report

26/05/2022 Argaam

Saudi Aramco's storage terminals 

Saudi Arabia Oil Co. (Saudi Aramco) approached Valvoline Inc. about a potential takeover of its lubricants business, The Wall Street Journal reported, citing unnamed sources familiar with the matter.

 

No deal is imminent, and there are no guarantees there will be one, the sources said.

 

Last year, Valvoline was said to be planning to separate its retail services from operations for global products that include lubricants.

 

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