Saudi Aramco has put downstream expansion and integration at Jubail on the Saudi Gulf right at the top of its agenda with the 21 April announcement to buy Shell’s 50% share of the Sasref joint refinery. Sasref is located in Jubail Industrial City and Aramco will pay Shell $631mn, with the deal set to be completed by end-2019.
Aramco’s downstream senior vice-president Abdulaziz al-Gudaimi says the state petroleum firm will “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 optimizing its performance and long-term viability.” (CONTINUED - 1002 WORDS)
