Saudi Aramco has become the second-largest shareholder in Hyundai Oilbank following its purchase of 17 percent of the company for $1.2 billion. The completion of this deal will increase Aramco’s oil refining capabilities by 650,000 b/d and is an important step in the company’s aim to double its refining capacity from 5 million b/d to 10 million over the long-term.