Saudi Aramco sweet on Shell’s stake in refining complex, report says

Saudi Aramco news
A Saudi Arabian Oil Co. (Aramco) logo sits on an electronic display at the company's corporate pavilion during the 22nd World Petroleum Congress in Istanbul, Turkey, on Wednesday, July 12, 2017. Photographer: Kostas Tsironis/Bloomberg

Saudi Aramco intends to snap up Shell’s 50% stake in the SASREF refining complex, a news report said.

A source told Reuters that a deal had already been struck for SASREF, a joint venture between the firms.

Based in Jubail Industrial City in Saudi Arabia, SASREF has a crude oil refining capacity of 305,000 barrels per day (bpd).

 

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