Saudi Aramco will acquire Royal Dutch Shell's 50 percent stake in their Sau...
FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed//File Photo
The purchase, which is part of Aramco’s strategy to expand its downstream operations, will be completed later this year, they said in a joint statement. “Saudi Aramco will take full ownership and integrate the refinery into its growing downstream portfolio. SASREF will continue to be a critical facility in our refining and chemicals business,” Abdulaziz al-Judaimi, Aramco’s senior vice president of downstream, said in the statement.
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