Aramco to buy Shell’s 50% stake in Saudi refining joint venture for $ 631 m

Monday, 22 April 2019 00:00 - - {{hitsCtrl.values.hits}}

DUBAI (Reuters): Saudi Aramco said yesterday it would acquire Royal Dutch Shell’s 50% stake in Saudi refining joint venture SASREF for $ 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).

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