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Saudi Aramco acquires Shell’s share of the SASREF refining joint venture
Saudi Aramco has completed its acquisition of Shell’s 50% interest of the SASREF joint venture in Jubail Industrial City, in the Kingdom of Saudi Arabia.
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 integrating its refining portfolio with Shell trading hubs and chemicals operations.
The SASREF refinery has a capacity of 305,000 b/d and solely processes Arab Light crude oil. Its yield slate is dominated by distillate production, accounting for nearly 50% of total output, with smaller volumes of naphtha, gasoline and BTX (benzene, toluene and xylene isomers) also produced.