Shell’s share of the SASREF refining venture will be acquired by Aramco, giving it complete ownership of the project.
Saudi Aramco will acquire a 17% stake in South Korea’s Hyundai Oilbank for approximately US$1.25 billion.
A new report from ICIS suggests that ‘big oil’ in the Middle East will boost the global petrochemicals footprint.
Advancing its integrated refining and petrochemicals business, Aramco gains access to SABIC’s 62 million tpy petrochemicals capacity.
As part of Saudi Vision 2030, the company aims to improve health and safety while growing its downstream capacity.
Another development in ADNOC’s strategy of expanding its petrochemical business, OMV plan further collaboration with the UAE company.
In a speech given at the Gulf Petrochemicals and Chemicals Association’s Research and Innovation summit, Aramco outlined their vision of increased research and production in the industry.
The UAE company won the award at the 2019 MEED Projects Awards for the Taweelah Gas Compression Plant’s swift completion and high safety standards.
WorleyParsons will take charge of the project management contract for the Ruwais petrochemicals complex in Abu Dhabi.