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Aramco Acquires 17% of South Korean Hyundai Oilbank | Saudi Aramco 1/3/2020 Aramco acquires 17% of South Korean Hyundai Oilbank | Saudi Aramco We are committed to providing you with a productive and privacy-friendly website experience. Like most websites you visit, we use cookies to provide you with a better service. Carry on browsing if you're happy with this, or find out how to manage. Read the full Cookie Policy I ACCEPT Aramco acquires 17% of South Korean Hyundai Oilbank DHAHRAN, December 17, 2019 TAGS: CHEMICALS DOWNSTREAM FINANCIAL PERFORMANCE PERFORMANCE REFINING 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 strategy of expanding its global footprint in key markets in profitable integrated refining, chemicals and marketing businesses which enable Saudi Aramco to place crude oil and leverage its trading capabilities. Hyundai Oilbank is a private oil refining company established in 1964. The Daesan Complex, where Hyundai Oilbank’s major facilities are located, is a fully integrated refining plant with a processing capacity of 650,000 barrels per day. The business portfolio of Hyundai Oilbank and its five subsidiaries includes oil refining, base oil, petrochemicals and a network of gas stations. Media contact information All media enquiries are handled by Saudi Aramco's Corporate Communications Department, Dhahran, Saudi Arabia. Menu https://www.saudiaramco.com/en/news-media/news/2019/aramco-hyundai-oilbank 1/3 1/3/2020 Aramco acquires 17% of South Korean Hyundai Oilbank | Saudi Aramco International: [email protected] We are committed to providing you with a productive and privacy-friendly website experience. Like most websites you visit, Dweo umsee csotoikcie:s dtoo pmroveidset yicou.m wiethd ai abe@ttear rsaermvicce.o C.acrroy mon browsing if you're happy with this, or find out how to manage. Read the full Cookie Policy RI AeCCcEePTnt news DHAHRAN, December 25, 2019 Saudi Aramco welcomes new agreement between Saudi Arabia and Kuwait for resumption of oil production BEIJING, CHINA, December 25, 2019 Beijing Research Center: building strong research ties around the world DETROIT, Michigan, U.S., December 12, 2019 Aramco debuts low CO2 demonstration truck at SAE Innovations in Mobility event in Detroit DHAHRAN, December 11, 2019 Saudi Aramco has officially listed on the Saudi Stock Exchange (Tadawul) DHAHRAN, December 04, 2019 Ithra partners with Arab Thought Foundation to host Fikr17 DHAHRAN, December 03, 2019 Standing on the shoulders of our pioneers Quick Links News & Media Other websites Social media Menu https://www.saudiaramco.com/en/news-media/news/2019/aramco-hyundai-oilbank 2/3 1/3/2020 Aramco acquires 17% of South Korean Hyundai Oilbank | Saudi Aramco © 2020 Saudi Arabian Oil Co. We are committed to providing you with a productive and privacy-friendly website experience. Like most websites you visit, we use cookies to provide you with a better service. Carry on browsing if you're happy with this, or find out how to manage. Read the full Cookie Policy I ACCEPT https://www.saudiaramco.com/en/news-media/news/2019/aramco-hyundai-oilbank 3/3.
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