Saudi Aramco intends to purchase Royal Dutch Shell's stake in Sasref Refining Complex in the Kingdom.
Reuters reported that there was an agreement reached between Aramco and Shell.
The Royal Dutch share in the SASREF complex is 50%, which is a joint venture between the two companies.
It is worth noting that the headquarters of the Saudi Aramco Shell Refinery Company (SASREF) is located in the industrial city of Jubail in Saudi Arabia, and the refining capacity of crude oil is 305 thousand barrels per day. >
Shell has sold more than $ 30 billion in assets in recent years, with a shift to focus on low-carbon activities such as natural gas and petrochemicals.
Energy Intelligence was the first to report a stake purchase plan earlier on Wednesday.
Namazon Services..programmed technical analysis platform ... for UAE, Saudi, and global markets
To more:
Despite strained relations, Saudi Sak invests in Turkey
