You are currently viewing: News



21-04-2019

Saudi Aramco to acquire Shell’s share of the SASREF refining joint venture

The Saudi Arabian Oil Company (Saudi Aramco) is to acquire Shell Saudi Arabia Refining Limited’s (Shell) 50% share of the SASREF joint venture in Jubail Industrial City, in the Kingdom of Saudi Arabia, for $631 million.

Abdulaziz Al-Judaimi, Saudi Aramco‘s Senior Vice President of Downstream, said: “The partnership with Shell has led to a strong record of performance and delivery of refined products. 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 and we look forward to further optimising its performance and long term viability.”

John Abbott, Shell Downstream Director, said: “SASREF has been a long and successful partnership between Shell and Saudi Aramco. The refinery has operated with good reliability, and has an impressive safety record. We’re proud of what we have achieved together over the past four decades and will continue to explore new business opportunities.”

The acquisition supports Saudi Aramco’s plan to increase the complexity and capacity of its refineries, as part of its long-term Downstream growth strategy.

For Shell, the sale is part of an ongoing effort to focus its refining portfolio, integrating with Shell Trading hubs and Chemicals. The sale is expected to complete later this year, subject to regulatory approval.

The refinery has a capacity of 305,000 barrels per day. The main products are liquefied petroleum gas, naphtha, kerosene, diesel, fuel oil and sulphur.
Sponsor : 

Other News Items

Hyundai Chemical Company selects UNIPOL™ PE technology from Univation

Hyundai Chemical Company, Ltd. has chosen Univation Technologies’ UNIPOL™ PE Technology for a 300 kTA high-density polyethylene (HDPE) plant to be located ...

20-05-2019

Demand for industrial and specialty gases to create investment opportunities

Registering a steady CAGR of 4.9%, the global market for air separation plant will reach a valuation of US$ 7,891.1 Mn by 2028, with China holding majority of the global ...

17-05-2019

KBR awarded FEED contract for Oman LNG debottlenecking project

KBR Inc, announced today it has been awarded a Front End Engineering Design (FEED) contract by Oman LNG L.L.C for the debottlenecking of their facility at Sur in the ...

15-05-2019

Emerson introduces new 2-wire coriolis flow meter

Emerson has released the Micro Motion 4200 2-wire loop-powered Coriolis transmitter, a new design that makes it possible to replace existing 2-wire flow devices with ...

14-05-2019

KBR selected as preferred bidder for freeport LNG train 4 EPC project

KBR, Inc. announced today it has been selected by Freeport LNG Development, L.P. as the preferred bidder for the engineering, procurement, construction, and commissioning ...

13-05-2019

ADNOC awards Bilfinger three EPC contracts

The Abu Dhabi National Oil Company (ADNOC) has awarded Bilfinger three separate projects in the first quarter of 2019. The contracts, secured by Bilfinger's Middle East ...

09-05-2019

Wison Engineering completes 600 KTA MTO and 100 KTA butadiene project

Wison Engineering successfully handed over its EPC project of 600 KTA MTO plant and 100 KTA butene-to-butadiene plant to the project owner - Nanjing Chengzhi Yongqing ...

08-05-2019

Clariant and Wuxi Xiyuan win further contracts for formaldehyde production projects

Clariant, a focused and innovative specialty chemical company, today announced that it will be collaborating with its engineering partner, Wuxi Xiyuan, in two new projects ...

07-05-2019

Zeeland refinery bridges gap in planning and scheduling with Aspen Technology

Aspen Technology Inc, the asset optimization™ software company, today announced that Zeeland Refinery, a joint venture between Total and Lukoil in Western Europe, ...

07-05-2019

Siemens and TĂśV SĂśD partner to strengthen digital safety and security

Siemens and TÜV SÜD have come together to address the growing risk of cyberattacks on critical infrastructure by collaborating to provide digital safety and ...

06-05-2019