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"We are planning to enlarge our joint venture with Saudi Aramco. We have a very big refinery there and the next step in order to add value is to enter into chemicals and petrochemicals," Total CEO Patrick Pouyanne said at a Franco-Saudi economic forum in Paris.
"Not only will we invest, but we will ask other companies to participate," he added.
Sources told Reuters last week that the agreement would include an extension of the petrochemical complex at Saudi Arabia Total Refining and Petrochemical (SATORP) refinery in Jubail and could also include adding a cracker unit.