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Saudi Aramco and Anglo-Dutch major Shell have signed binding definitive agreements for the separation of assets, liabilities and businesses comprising the US-based Motiva Enterprises refining and marketing JV. The two companies say they expect the transaction to close in the second quarter this year.
Houston-headquartered Motiva, a 50:50 JV, operates three refineries with a combined crude processing capacity of 1.065mn b/d.
Under the split Aramco will get 100% of the 600,000 b/d Port Arthur in Texas – the largest refinery in the US – whilst Shell will get the 230,000 b/d Convent and 235,000 b/d Norco plants in Louisiana. Motiva also operates 34 product storage terminals with a combined capacity of 16.5mn barrels and sells products through 8,200 Shell-branded service stations as well as unbranded wholesalers. (CONTINUED - 859 WORDS)
DATA INSIDE THIS ARTICLE
|table||Saudi Aramco Overseas Refineries|
|chart||Aramco Refining Capacity By Country (Net, ‘000 B/D)*|