ENERGY

Aramco to buy Shell’s 50 pct stake in Saudi refining JV for $631 mln

Saudi Aramco Shell Refinery Co (SASREF) has a crude oil refining capacity of 305,000 barrels per day. (File photo: Reuters)

Saudi Aramco said on Sunday it would acquire Royal Dutch Shell’s 50 percent 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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Last Update: Sunday, 21 April 2019 KSA 13:41 - GMT 10:41
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