Aramco to buy Shell's 50pct stake in Saudi refining JV for US$631m


  • Business
  • Sunday, 21 Apr 2019

DUBAI: Saudi Aramco said on Sunday it would acquire Royal Dutch Shell's 50 percent stake in Saudi refining joint venture SASREF for US$631 million.

The sale is expected to complete later this year, the two companies said in a joint statement.

Saudi Aramco Shell Refinery Co (SASREF), based in Jubail Industrial City in Saudi Arabia, has a crude oil refining capacity of 305,000 barrels per day (bpd). - Reuters

   

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