Saudi Aramco, the kingdom’s state-owned oil behemoth, took 100% control of the sprawling Port Arthur refinery in Texas, completing a deal that was first announced last year.
Royal Dutch Shell announced today the completion of the transaction with Saudi Aramco (profile) for the separation of assets, liabilities and businesses of Motiva Enterprises.
As announced when the definitive agreements were signed, the separation is as follows:
Saudi Aramco (through its wholly owned Saudi Refining, Inc. subsidiary) assumes full ownership of the Motiva Enterprises LLC name and legal entity, including the refinery at Port Arthur, Texas and 24 distribution terminals.
Additionally, Motiva has 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 eastern half of Texas and the majority of Florida.
Shell (through various affiliated companies) assumes sole ownership of the Norco, La., refinery (where Shell operates a chemicals plant), the Convent, La., refinery, 11 distribution terminals, and Shell-branded markets in Alabama, Mississippi, Tennessee, Louisiana, a portion of the Florida panhandle, and the North-eastern region of the U.S. These assets are now fully integrated with Shell’s downstream business in North America.