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Saudi Aramco acquires Shell’s share in SASREF refining JV

Sep 24, 2019
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Saudi Aramco completed the acquisition of Shell’s 50 per cent interest in their refining joint venture in Saudi Arabia’s Jubail Industrial City for US$631 million.

The acquisition of Saudi Aramco Shell Refinery (SASREF) supports Saudi Aramco’s plan to increase the complexity and capacity of its refineries, as part of its long-term downstream growth strategy, according to a statement.

For Shell, the sale is part of an ongoing effort integrating its refining portfolio with Shell Trading hubs and chemicals operations.

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