April 21, 2019 / 8:47 AM / 2 months ago

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

DUBAI, April 21 (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). (Reporting by Rania El Gamal; Editing by Mark Potter)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below