BREAKING NEWS

BREAKING NEWS

Aramco plans to buy Shell's stake in Saudi refining JV - sources

Aramco plans to buy Shell's stake in Saudi refining JV - sources
FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo -
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Ahmed Jadallah(Reuters)
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DUBAI (Reuters) - Saudi Aramco plans to buy Royal Dutch Shell's 50 percent stake in Saudi refining complex SASREF, a joint venture between the firms, two sources said on Wednesday.

One of the sources said an agreement has been reached between Aramco and Shell.

Aramco and Shell declined to comment.

Energy Intelligence had reported the stake purchase plan earlier.

(Reporting by Rania El Gamal, editing by Louise Heavens)

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