Saudi state petroleum giant Aramco has equity in 2.4mn b/d of overseas refining capacity in addition to the 2.9mn b/d the company and its partners operate within the kingdom. While Aramco’s domestic refining operations are proceeding smoothly, overseas plans are in flux.
Indications emerged this week of a potential problem with the planned break-up of the Motiva joint venture in the US, which Aramco and equal partner Shell announced in March. Shell has asked Aramco for up to $2bn of cash to compensate for an uneven split of the assets, according to Reuters. (CONTINUED - 869 WORDS)