Aramco Acquires 17% of South Korean Hyundai Oilbank

Aramco Acquires 17% of South Korean Hyundai Oilbank

Saudi Arabian Oil Company (Saudi Aramco) has completed, through its subsidiary Aramco Overseas Company B.V. (AOC), the acquisition of 17% of Hyundai Oilbank from Hyundai Heavy Industries Holdings, for approximately US$1.2 Billion. The completion follows receipt of all necessary regulatory consents and approvals. The investment in South Korea’s Hyundai Oilbank supports Saudi Aramco’s Downstream growth...

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