Almost 2 miles wide along both Hwy 73 and 82. map
Posted on 03/20/2016 7:37:10 AM PDT by John W
HOUSTON: Saudi Arabia's national oil company wants to buy more US refining and chemical plants to expand its footprint in the world's largest energy market once the break-up of its joint venture with Royal Dutch Shell Plc is complete, sources said.
Ending an often rocky nearly 20-year relationship, Shell and Saudi Aramco announced on Wednesday plans to break up Motiva Enterprises LLC after almost two decades, dividing its assets and leaving Aramco with one plant, the nation's largest crude oil refinery, in Port Arthur, Texas.
Officials from Saudi Refining, the downstream arm of Aramco, told employees following the announcement that the state-owned firm was intent on buying more assets once the Motiva break-up is finished, according to five people who attended the briefing and asked not to be identified due to the sensitivity of the issue.
The officials did not identify possible acquisition targets, the sources said. An Aramco representative was not immediately available to discuss the company's plans. A Shell spokeswoman directed questions to Aramco.
(Excerpt) Read more at dailytimes.com.pk ...
What’s wrong with this picture?
That ought to be nipped in the bud. National security and all.
Where is Saudi Arabia getting the money ,from Obama
If it were an entirely U.S. company, it would face a tough anti-trust challenge.
Standard Oil, Monopoly
Motiva completes $10 billion Gulf Coast JV refinery expansion May 31, 2012
"Rather than cut and run, we pressed ahead with our long-term commitment," he said. "We're confident in the return on investment, despite the cost, will be very healthy."
Snip...The expansion gives Motiva the flexibility to run lower-cost heavy oil from South America, Latin America and potentially from Canada, if the delayed Keystone XL pipeline is built.
After spending $10 billion on the expansion I can understand their desire to keep it.
Now they have to worry about ExxonMobile taking over here in the area as largest producer...
Jacobs Receives Contract for ExxonMobil August 11, 2015
I came to a realization the other day that perhaps our president struck a deal with the saudies to lower gasoline prices in order to drive our oil businesses out of work- He knew he would face too much trouble for going after the oil business directly- so he enlisted the help of the saudies to do the dirty work for him-
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