Riyadh – Mubasher: Saudi Aramco has fully acquired the largest oil refinery in the US, the Port Arthur refinery.
Royal Dutch Shell released a statement Monday announcing the “completion” of transferring its stake in the refinery to Aramco, who already owns the rest of the stakes, Alarabiya.net reported.
In March 2016, Shell and Saudi Aramco announced a plan to split the nearly 20-year-old venture, which runs three refineries and other assets, Reuters reported.
Under the proposed division, Saudi Aramco will keep the Motiva name and Port Arthur in Texas, which produces 603,000 barrels per day (bpd), in addition to 26 distribution terminals.
