Saudi Aramco to Acquire 50 Percent Share of SASREF Joint Venture

April 24, 2019 – Saudi Aramco has agreed to acquire Royal Dutch Shell’s 50 percent stake in the Saudi Aramco Shell Refinery Co. (SASREF) refining joint venture for an estimated $631 million, with the expectation that the transaction will be completed later in 2019. Located in Jubail Industrial City, SASREF has a refining capacity of 305,000 barrels per day. The acquisition of this facility by Saudi Aramco is part of the company’s strategy to expand its downstream operations with the goal of becoming the world’s largest integrated energy company.