{"id":270098,"date":"2019-04-22T05:11:21","date_gmt":"2019-04-22T05:11:21","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=270098"},"modified":"2019-04-22T05:13:12","modified_gmt":"2019-04-22T05:13:12","slug":"aramco-to-buy-shells-stake-in-saudi-refining-jv-for-631-million","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/aramco-to-buy-shells-stake-in-saudi-refining-jv-for-631-million\/","title":{"rendered":"Aramco to buy Shell&#8217;s stake in Saudi refining JV for $631 million"},"content":{"rendered":"<p>Saudi Aramco will acquire Royal Dutch Shell&#8217;s 50 percent stake in their Saudi refining joint venture SASREF for $631 million, the two companies said on Sunday. <\/p>\n<p>The purchase, which is part of Aramco&#8217;s strategy to expand its downstream operations, will be completed later this year, they said in a joint statement. <\/p>\n<p>Saudi Aramco Shell Refinery Co (SASREF), based in Jubail Industrial City in Saudi Arabia, has a crude oil refining capacity of 305,000 barrels per day (bpd). <\/p>\n<p>&#8220;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,&#8221; Abdulaziz al-Judaimi, Aramco&#8217;s senior vice president of downstream, said in the statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Aramco will acquire Royal Dutch Shell&#8217;s 50 percent stake in their Saudi refining joint venture SASREF for $631 million, the two companies said on Sunday. The purchase, which is part of Aramco&#8217;s strategy to expand its downstream operations, will be completed later this year, they said in a joint statement. Saudi Aramco Shell Refinery Co (SASREF), based in Jubail Industrial City in Saudi Arabia, has a crude oil refining capacity of 305,000 barrels per day (bpd). &#8220;Saudi Aramco will take full ownership and integrate the refinery into its growing downstream portfolio. SASREF will continue to be a critical facility [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-270098","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/270098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=270098"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/270098\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=270098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=270098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=270098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}