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Experts rule out the possibility of fuel price fluctuations due to Saudi Aramco oil company’s expansion into Chile



Experts do not foresee any changes in values ​​or the market as a result of Saudi Arabia’s state-owned company Saudi Aramco, which purchased 100% of Smax Distribution’s shares, entering Chile.

later Saudi Aramco, Saudi Arabia’s national oil company, has completed the acquisition of 100% of Smax Distribution. The company that operates the Petrobras license in Chile, Economists asserted that domestic gasoline prices would be maintained.

Saudi Oil Company’s stock market capitalization is It is the third largest company on the planet, valued at US$2.19 trillion.

Carlos Smith, an economist at Desarrollo University’s Center for Business and Society Research, asserted: There is no impact on fuel prices.

William Diaz, an economist and former vice president of Enami, declared: There will be no change in the fuel market.

Pablo Barberis, Professor Unegosios of the University of Chile, made a similar point: There should be no fluctuations not only in the price of oil, but also in the prices of benzene and paraffin.

Germán González, Macroeconomic Coordinator at the Latin American Economic and Social Policy Center, said: Prices continue to depend on exchange rates and international fuel prices.

according to Aramco reported on its website.The planned acquisition of Esmax is our first retail investment in South America and recognizes the potential and attractiveness of these markets, while furthering our strategy to strengthen our value chain.

The deal will give the company a place to sell its refined products and will help it expand its retail operations internationally. This acquisition opens new market opportunities for Valvoline branded lubricants.

Source: Biobiochile

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