Motivo

Saudi Arabian oil and gas giant Saudi Aramco's US-based refining arm Motiva Enterprises has signed an agreement with an affiliate of Kansas-based Flint Hills Resources -- a subsidiary of Koch Industries chaired by American billionaire Charles G Koch -- to acquire full ownership interest in Flint Hills Resources Port Arthur.

LONDON: Motiva Enterprises, the US refining unit of Saudi Aramco, has struck a deal to buy the Flint Hills Resources chemical plant in Texas.

Through its Motiva Enterprises LLC subsidiary, Aramco owns the largest US refinery -- the 603,000-barrel-per-day Port Arthur plant -- and is in the early stages of an ambitious $6.6 billion petrochemicals expansion there.

Under the terms of the agreements, Menke Med and Motiva Matrix, respectively the exclusive distributors of Motiva in Germany and Spain, will transfer distribution arrangements to Establishment Labs.

Motiva Enterprises LLC, a wholly-owned downstream oil and gas subsidiary of Saudi Aramco, has signed technology agreements worth between $8 billion to $10 billion with US companies Honeywell UOP LLC and TechnipFMC plc.

Houston, Rajab 22, 1439, April 08, 2018, SPA -- His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Vice President of the Council of Ministers and Minister of Defense of the Kingdom of Saudi Arabia patronized here yesterday the launch of the project of Motiva, a subsidiary fully owned by Saudi Aramco, for petrochemicals at giant Port Arthur Refinery in United States of America.

Both ATC and the SA group in Dhahran took full control over the Motiva trading operations in early 2018.

Motiva, based in Houston, has spent $10bn on expansion of its refinery at Port Arthur, Texas, to 600,000 b/d by late May 2012; it is the biggest refinery in the US, with more efficient technologies to reduce CO[sup.2] emissions.

CNN quoted Motiva as saying, it has started closing its Port Arthur refinery in response to increasing local flood conditions and the plant won't open until flood waters recede.

Royal Dutch Shell and Saudi Aramco have completed the separation of Motiva Enterprises, their Houston-based refining and marketing joint venture.

M2 EQUITYBITES-May 2, 2017-Shell concludes separation of Motiva assets