London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Saudi Aramco completes deal for Shells share in SASREF refining JV

September 20/2019

SCOW (MRC) -- Saudi Arabian Oil Company (Saudi Aramco) has completed the acquisition of Shell Saudi Arabia (Refining) Limiteds (Shell) 50% interest in the SASREF joint venture in Jubail Industrial City, in the Kingdom of Saudi Arabia, for USD631 million, said the company.

Completion follows receipt of all necessary regulatory consents. The acquisition supports Saudi Aramcos 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 integrating its refining portfolio with Shell Trading hubs and chemicals operations.

SASREFs crude processing capacity is 305,000 bbl/day, according to its website. The refinerys products include liquefied petroleum gas(LPG), naphtha, kerosene, diesel, fuel oil and sulphur.

As MRC reported before, a number of Saudi Arabia's companies, such as Tasnee, Sadara, Advanced Petrochemical and Saudi Kayan, announced a curtailment of feedstock to their petrochemical plants, including polyethylene (PE) and polypropylene (PP) facilities, by an average of 30-50% due to the attacks on key Saudi Aramco facilities on Saturday.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,255,800 tonnes in the first seven months of 2019, up by 9% year on year. Shipments of all PE grades increased. At the same time, the estimated PP consumption in the Russian market was 796,120 tonnes in January-July 2019, up by 11% year on year. Shipments of PP block copolymer and homopolymer PP increased.


mrcplastr.com
Author:Anna Larionova
Tags:petroleum products, crude oil, petrochemistry, Crude oil, Saudi Aramco.
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe