Khalid Al Hamid took over as president of SASREF in June 2019. As a chemical engineer, Al Hamid has over 30 years of experience in the downstream oil and gas sector. In September 2019, Saudi Aramco has completed the acquisition of Shell Saudi Arabia Refining’s 50% interest of the SASREF joint venture in Jubail Industrial City, in the Kingdom of Saudi Arabia, for $631mn. Completion follows receipt of all necessary regulatory consents. 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.
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