Aramco completes 50% acquisition of BHIG

Logo of Saudi Aramco

Saudi Arabian Oil Co. (Saudi Aramco) completed today, March 24, the acquisition of a 50% stake in the Jubail-based Blue Hydrogen Industrial Gases Co. (BHIG), a wholly-owned subsidiary of Air Products Qudra (APQ).

The deal brings together industry experts to supply hydrogen, including low-carbon hydrogen, at scale to Jubail Industrial City.

BHIG focuses on producing blue hydrogen—hydrogen derived from natural gas using carbon capture and storage (CCS). Commercial operations will launch in coordination with Aramco’s CCS activities in Jubail.

Aramco expects this investment to expand the hydrogen network in Saudi Arabia’s Eastern Province. The network, along with Jubail’s carbon capture hub, will help Aramco tap into global opportunities to reduce emissions, drive growth, and diversify its energy portfolio.

Aramco had signed definitive agreements in July 2024 to acquire stakes in BHIG, a wholly owned APQ subsidiary, according to Argaam’s data.