Saudi Aramco has been identified as the leading contender to buy a refinery in Houston from locally-based (though Rotterdam-registered) refining and petrochemicals firm LyondellBasell. Lyondell is expected to announce the sale of its 268,000 b/d Houston refinery shortly, according to a Reuters report citing several sources. Aramco is reportedly leading the race to buy the refinery, with San Antonio, Texas-based Valero among companies in the running.
This comes as Aramco is in the process of taking over the 600,000 b/d Port Arthur refinery near Houston, currently operated by Motiva, its 50:50 US refining joint venture with Shell. Motiva is in the process of being disbanded, this week confirming that it aims to complete the separation by 1 April 2017. (CONTINUED - 759 WORDS)