Last year, Shell broke up an 18-year refining partnership in the U.S. with Aramco. (AP Photo/Peter Dejong, File)
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Saudi Basic Industries Corp. agreed to buy out Royal Dutch Shell PLC's 50-percent stake in a petrochemical joint venture for $820 million, marking the third project with Saudi Arabia's largest companies that the Anglo-Dutch company has exited since 2014 .Shell ended plans to build a $6.5 billion petrochemical plant in Qatar in 2015 and last year exited a natural gas venture in Abu Dhabi as the downturn in oil prices and the cost of developing the resources made those projects too expensive.Last year, Shell broke up an 18-year refining partnership in the U.S. with Saudi Arabian Oil Co., known as Aramco, after halting investment in a natural gas venture with Aramco in 2014 . Shell still has a refining venture with Aramco in the kingdom, according to the Shell website.
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