State-owned oil giant Saudi Aramco has completed the acquisition of Royal Dutch Shell’s 50% stake in the joint-venture Sasref refinery in Saudi Arabia for $631 million, the two companies said in a joint statement (IOD Apr.23’19). Completion of the deal follows receipt of all necessary regulatory consents and comes in the wake of Saturday’s attacks on critical Saudi oil infrastructure. The attacks also impacted Sasref, which cut its crude runs after Aramco was forced to reduce feedstock supplies to the plant (IOD Sep.17’19).
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