Saudi Aramco acquires Shell’s share of SASREF
Published by Tom Mostyn,
Editorial Assistant
Hydrocarbon Engineering,
Saudi Aramco has completed the acquisition of Shell Saudi Arabia Refining Ltd’s (Shell) 50% interest of the SASREF joint venture in Jubail Industrial City, in Saudi Arabia, for US$631 million.
First announced in April 2019, 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.
Read the article online at: https://www.hydrocarbonengineering.com/refining/19092019/saudi-aramco-acquires-shells-share-of-sasref/
You might also like
Hydrocarbon Engineering Podcast
In this episode, Alan Gelder, Senior Vice President of Refining, Chemicals and Oil Markets at Wood Mackenzie, provides a review of downstream markets in 2024 and looks ahead to what 2025 may hold for the sector.
Evonik and Oerlikon forge partnership
Evonik and Oerlikon Barmag have forged a strategic partnership in the growing market for chemically recycled PET.
