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 that enable ...