Saudi Arabian Oil Company, Saudi Aramco, has acquired of Shell Saudi Arabia (Refining) Limited’s 50 per cent interest in the SASREF joint venture in Jubail Industrial City for $631 million.

Completion follows receipt of all necessary regulatory consents. The acquisition supports Saudi Aramco’s plan to increase the complexity and capacity of its refineries, as part of its long-term downstream growth strategy. For Shell, the sale is part of an ongoing effort integrating its refining portfolio with Shell Trading hubs and chemicals operations.

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26th September 2019