Saudi Aramco raises stake in Showa Shell

Saudi Aramco subsidiary Aramco Japan Holdings Co. BV acquired an additional 18.84 million shares in Showa Shell Sekiyu KK of Japan from Royal Dutch/Shell Group.

June 23, 2005

By OGJ editors
HOUSTON, June 23 -- Saudi Aramco subsidiary Aramco Japan Holdings Co. BV acquired an additional 18.84 million shares in Showa Shell Sekiyu KK of Japan from Royal Dutch/Shell Group.

The transaction increases Saudi Aramco's holding in Showa Shell to 14.96% and drops Royal Dutch/Shell's holding to 35.04%. It also enables long-term supply of Saudi crude to the Japanese market, Saudi Aramco said.

Saudi Aramco via a July 2004 agreement had acquired an initial 9.96% stake in Showa Shell from Royal Dutch/Shell with an option to acquire the additional shares.