Middle East Economic Survey
Saudi Aramco Acquires Stake In Shell Japanese Refining/Marketing Venture
Saudi Aramco announced on 5 July that through its subsidiary Aramco Overseas Company it had signed an agreement with Shell to acquire a 9.96% strategic shareholding in Showa Shell, a publicly traded Japanese refining and marketing company. As part of this transaction, Saudi Aramco will supply a minimum of 300,000 b/d of crude oil. The Shell Group, with a...