Saudi Aramco Planning $30B Investment in Motiva by 2023

Reuters, May 24, 2017

Saudi Aramco plans an investment of up to $30 billion in its U.S. subsidiary Motiva Enterprises LLC, the company said in an announcement at a business summit in Saudi Arabia. The company said that $12 billion would be the initial investment in a project to expand refining capacity at Motiva's Port Arthur, Texas, refinery, already the largest in the United States, and to extend Motiva's operations in the petrochemical value chain, according to a statement about the investment. A likely additional investment of $18 billion is expected in Motiva by 2023, it said.

Since the completion of an expansion of the Port Arthur refinery in 2012, which more than doubled its capacity to refine crude oil to 603,000 barrels per day (bpd), Motiva has weighed plans for further expansion of the plant. Saudi Aramco has also looked at acquiring at least one additional Gulf Coast refinery and visited chemical plants up for sale.

"We are investing in long-term job creation and the future of the refining industry in the United States, and we are delivering on Vision 2030 to expand the U.S.-Saudi partnership," Saudi Aramco President and Chief Executive Amin Al Nasser said on Saturday, according to the statement.

Aramco said in the announcement that in the short-term an additional 2,500 jobs would be created in Port Arthur and an additional 12,000 jobs by 2023. Vision 2030 is a plan announced last year by Saudi Deputy Crown Prince Mohammed bin Salman to diversify the Saudi economy away from reliance on oil production. On May 1, Motiva became an Aramco subsidiary with the breakup of a 19-year partnership with Shell. Under the breakup agreement, Aramco retained the Motiva name and the Port Arthur refinery along with distribution operations across seven states.

(Reporting by Erwin Seba; Editing by Tom Brown)

Click here to read the full article from Reuters.

Copyright 2018 Thomson Reuters. Click for restrictions.

Comments and Discussion

There are no comments yet.

Add a Comment

Please log in or register to participate in comments and discussions.

Inspectioneering Journal

Explore over 20 years of articles written by our team of subject matter experts.

Company Directory

Find relevant products, services, and technologies.

Job Postings

Discover job opportunities that match your skillset.

Case Studies

Learn from the experience of others in the industry.

Event Calendar

Find upcoming conferences, training sessions, online events, and more.

Industry News

Stay up-to-date with the latest inspection and asset integrity management news.


Read short articles and insights authored by industry experts.


Commonly used asset integrity management and inspection acronyms.

Asset Intelligence Reports

Download brief primers on various asset integrity management topics.


Watch educational and informative videos directly related to your profession.

Expert Interviews

Inspectioneering's archive of interviews with industry subject matter experts.