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FinancialNews
22-04-19
Saudi Aramco to purchase 50 percent share in JV refinery
(MENAFN) Saudi Aramco signed a USD631 million agreement to purchase 50 percent of shares in a joint venture refinery located in the Saudi Jubail Industrial City.
Shares are being acquired from Shell, a Dutch oil giant, to mark a solid performance and delivery of refined goods.
Aramco senior vice president of downstream Abdulaziz Al-Judaimi affirmed that the Saudi giant will be having complete ownership and integrate the SASREF refinery.
Downstream director in Shell John Abbott stated "SASREF has been a long and successful partnership between Shell and Saudi Aramco. The refinery has operated with good reliability and has an impressive safety record."
MENAFN2204201900450000ID1098421524
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