Saudi Aramco will pay $631 million for Shell’s stake in the two companies
refining JV SASREF in Jubail Industrial City. For Aramco, the transaction supports its
efforts to increase the complexity and capacity of its refineries as it seeks to become
the world’s largest integrated energy company. For Shell, the sale is part of an ongoing
effort to focus its refining portfolio as it focuses on its natural gas and
petrochemicals operations.
The SASREF refinery has
a total production capacity of......
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