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America's Largest Refinery Now Owned Outright by Saudi Arabia

Cable News Network Inc., May 2, 2017

Saudi Aramco, the kingdom's state-owned oil giant, is now officially the 100% owner of America's largest oil refinery, the 600,000 bpd Port Arthur Refinery. Aramco previously owned 50% of the Port Arthur complex through a joint venture co-owned with Royal Dutch Shell called Motiva Enterprises. Last year the companies announced that they would be seperating their Motiva assets and on Monday, Shell confirmed the "completion" of that break up.  Under terms of their separation agreement, the assets retained by Saudi Aramco’s wholly owned Saudi Refining, Inc. (“SRI”) subsidiary include:

  • The Motiva Enterprises LLC name and legal entity, which will be used in continuing its operations as a Texas-based refiner, distributor and marketer of gasoline, diesel and other petroleum products.
  • The 600,000 barrel per day refinery at Port Arthur, Texas. This complex also includes a 40,000 barrel per day base oil manufacturing plant.
  • A network of 24 distribution terminals with a total storage capacity of 11.1 million barrels. These facilities support product delivery to approximately 5,300 Shell-branded service stations and unbranded wholesalers, as well as product storage for third-party customers.
  • Motiva will have the right to exclusively sell Shell-branded gasoline and diesel in Georgia, North Carolina, South Carolina, Virginia, Maryland and Washington D.C., as well as the majority of Florida and the eastern half of Texas.

 

Click here to read the full article from Cable News Network Inc..


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