Saudi Arabia's Aramco completed its $3.4 billion purchase of Rongsheng Petrochemical stake. 

Armco will supply Zhejiang Petroleum and Chemical Co. Ltd. 480,000 bbl/d of crude oil in a long-term sales agreement. 

The transaction represents continued growth of Aramco's downstream presence in China. 

Armco purchased 10% interest in Rongsheng through its subsidiary Armco Overseas Co. BV, based in the Netherlands.