Saudi Aramco acquires Valvoline in downstream push
Saudi Aramco, the world’s largest oil-exporting company, acquired US lubricants manufacturer Valvoline Aug. 1 as it looks to achieve greater market share in the downstream and allied distribution businesses. Valvoline was acquired for $2.65 billion, with the transaction subject to regulatory requirements. Kentucky-based Valvoline sells lubricants and other automotive and engine maintenance products primarily to automotive retailers, installers and original…