This may end up being a good thing.
This “divorce” between Shell and Saudi Aramco effectively puts two refineries solely in Shell’s hands and one in Saudi Aramco’s hands, rather than all 3 being split 50/50 between the two parties.
Shell can ride out this storm, but Saudi Arabia needs cash pretty bad. My bet is they put their downstream assets up for sale sooner rather than later, and somebody will get a pretty good deal for it.
I concur. Motiva Port Arthur will soon be sold. The Saudis have a lot of people on welfare who want their money on a regular basis.