Sunday, March 20, 2016

Largest U.S. refinery now belongs to Saudi Arabia  Charles Kennedy, 10:32 a.m. EDT March 19, 2016

 USA Today
Royal Dutch Shell and Saudi Aramco appear to be getting a divorce, breaking up their joint venture in U.S.-based refining assets.
The two companies joined together to create Motiva Enterprises LLC in 1998, a 50-50 joint venture that operated three refineries on the U.S. Gulf Coast. But Shell and Saudi Aramco have seen their interests head in different directions. "It is now time for the partners to pursue their independent downstream goals," said Abdulrahman Al-Wuhaib, a senior vice president of Saudi Aramco’s downstream unit.The Wall Street Journal speculates that it could also pave the way for some sort of listing of Aramco’s assets in a public offering

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