Aramco has no plans for bigger Showa Shell stake


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 on Monday.

"We have no plans to increase the stake in Showa Shell refinery at this time," Adil Al Tubayyeb, vice president marketing and joint venture coordination told Reuters.

Aramco has a 15 per cent stake in the Showa Shell Sekiyu KK and is the company's second biggest investor after Royal Dutch Shell.

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 hopeing they will be concluded this year," he said. (Reuters)