Saudi Aramco said on Sunday it would acquire Royal Dutch Shell’s 50 percent stake in Saudi refining joint venture SASREF for $631 million.



The sale is expected to complete later this year, the two companies said in a joint statement.



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

Last Update: Wednesday, 20 May 2020 KSA 09:59 - GMT 06:59