Built to inform

Sign up for the daily newsletters

No, Thank you

Shell, Saudi Aramco complete separation of assets

Under the terms reached in the dissolution of Motiva, Saudi Aramco assumes full ownership of the Motiva Enterprises LLC name and legal entity, including the refinery at Port Arthur, Texas, and 24 distribution terminals

Shell and Saudi Aramco have completed the transaction for the separation of assets, liabilities, and businesses of Motiva Enterprises LL.
Shell and Saudi Aramco have completed the transaction for the separation of assets, liabilities, and businesses of Motiva Enterprises LL.

Royal Dutch Shell and Saudi Aramco have completed the transaction for the separation of assets, liabilities, and businesses of Motiva Enterprises LL.

This development follows the signing of the definitive agreements on the separation, which was announced by the two companies back in March, during which it was revealed that Saudi Aramco will be required to pay Shell $2.2bn. 

According to Shell, under the terms reached in the dissolution of Motiva, its joint venture with Saudi’s oil giant, Saudi Aramco 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, DC, as well as the eastern half of Texas and the majority of Florida.

Shell, meanwhile, 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 reportedly now fully integrated with Shell's downstream business in North America.

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 761
Mar 21, 2020