HomeMagazine2016March 2016, Vol. 243, No. 3Shell, Saudi Aramco Split Assets, Including Big US Refinery

March 2016, Vol. 243, No. 3

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Shell, Saudi Aramco Split Assets, Including Big US Refinery

DUBAI, United Arab Emirates (AP) — Royal Dutch Shell PLC and Saudi Arabian Oil Co. will split up the assets of their joint U.S. venture, which will see the kingdom’s state-owned producer take full ownership of America’s biggest oil refinery, the companies announced late Wednesday. The Port Arthur, Texas, refinery, located about 90 miles (140 kilometers) east of Houston, produces some 603,000 barrels of oil a day, according to the U.S. Energy Information Administration. It had been part of a 50-50 joint venture between the two companies called Motiva Enterprises LLC, which formed in 1998. Under terms of the deal announced in a statement, a Saudi Aramco affiliate will retain the

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