Saudi Arabian Oil Company (SASE:2222) signed definitive agreements to acquire 50% stake in Blue Hydrogen Industrial Gases Company from Air Products Qudra on July 16, 2024. The transaction is subject to standard closing conditions, will also include options for Aramco to offtake hydrogen and nitrogen. Upon completion Aramco and APQ, a joint venture between Air Products and Qudra Energy, are expected to each own a 50% stake in BHIG.