oilandgasnewsonline.com: No plans for increasing Showa Shell stake says Aramco
Volume: 25, No. 15: April 14 – 20, 2008
DOHA:
Saudi Aramco has no plans to increase its stake in a Japanese refiner but continues to seek a share in a plant in China, a company official said.
“We have no plans to increase the stake in Showa Shell refinery at this time,” Adil Al-Tubayyeb, vice president for marketing and joint venture coordination told Reuters.
Aramco has a 15 per cent stake in the Showa Shell Sekiyu, and is the company’s second biggest investor after Royal Dutch Shell. In December, the company said it may increase the stake. State-run Aramco hopes to conclude talks this year on a stake in Sinopec Group’s 200,000 barrels per day east China Qingdao refinery, Tubayyeb also said
“We are continuing discussions on this and we are hoping they will be concluded this year,” he said. read more
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