Saudi Aramco Said to Consider Buying Valvoline’s Petroleum Unit

Saudi Aramco is considering buying a unit of Valvoline Inc. that sells lubricants and other automotive products as the state-owned oil giant seeks to expand globally, people familiar with the matter said.

Aramco made an approach to Valvoline to buy its global products business, the people said, asking not to be identified as the matter is private. Talks are ongoing and there is no guarantee that the two parties can reach an agreement, the people said.

A representative for Aramco declined to comment.

“Valvoline continues to work on its previously announced separation process with the goal of maximizing shareholder value ...