Riyadh - Mubasher: Motiva Company said that Saudi Aramco plans to spend $18 billion in the next five years to expand its operations in the Americas, focusing on its United Stated oil refining subsidiary Motiva Enterprises, according to Reuters.
The expansion could not be only focused on current operations, as it may include new locations.
Motiva called the $18 billion estimate "a general framework of opportunities" to increase refining capacity, branch into chemicals, and expand its commercial operations, marketing and branded presence in the next five years, as reported by Reuters on Friday.
Aramco is also looking forward to acquiring at least one additional Gulf Coast refinery and visited chemical plants up for sale to expand Motiva's portfolio.
