Saudi Aramco plans to buy Royal Dutch Shell's 50 percent stake in Saudi ref...
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
DUBAI - Saudi Aramco plans to buy Royal Dutch Shell’s 50 percent stake in Saudi refining complex SASREF, a joint venture between the firms, two sources said on Wednesday.Aramco and Shell declined to comment. Saudi Aramco Shell Refinery Co , based in Jubail Industrial City in Saudi Arabia, has a crude oil refining capacity of 305,000 barrels per day .
Shell has sold over $30 billion of assets in recent years as it shift its focus to lower carbon businesses such as natural gas and petrochemicals.Reporting by Rania El Gamal, editing by Louise Heavens and Susan Fenton
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