Riyadh – Mubasher: Shell Oil Co, the U.S. subsidiary of Royal Dutch Shell, expected that the assets of Motiva Enterprise, co-owned with Saudi Aramco, will be split in the second quarter of 2017.
"We are pleased with the progress we have made to date, and anticipate completion of the transaction in Q2-17," Shell spokesman Ray Fisher said in an email, according to Reuters on Tuesday.
Fisher added the internal project teams target 1 April to achieve the deal on.
Under the proposed division, Saudi Aramco will keep the Motiva name and Port Arthur in Texas, which produces 603,000 barrel per day (bpd), in addition to 26 distribution terminals.
Moreover, Aramco would have exclusive license to use the Shell brand for gasoline and diesel sales in Texas, the majority of the Mississippi River Valley, and the Southeast and Mid-Atlantic markets, Reuters said.
