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Saudi's Sabic to acquire remaining 50% of Shell venture

Shell is involved in other downstream activities in Saudi Arabia; it has a crude oil refinery with Saudi Aramco in Jubail.


SAUDI Basic Industries Corp (Sabic) has signed an agreement to acquire the 50 per cent that it does not already own in its petrochemical venture with Shell Arabia, a unit of Royal Dutch Shell, for US$820 million, Sabic said on Sunday. "As per the partnership agreement between the...

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