Skip to content
Subscriber Only

Saudi Aramco to Pay Shell $2.2 Billion in Refinery Breakup

  • Saudis to take control of Port Arthur refinery, 24 terminals
  • Shell will get 2 refineries, 11 terminals in Motiva split
Updated on

Saudi Arabian Oil Co. will pay Royal Dutch Shell Plc $2.2 billion including debt to finalize the breakup of a 19-year refining partnership known as Motiva Enterprises LLC.

Saudi Aramco’s Saudi Refining unit will take full ownership of the Motiva Enterprises name and legal entity, including the largest refinery in the U.S. at Port Arthur in Texas, and 24 distribution terminals, according to a joint statement. Shell will take sole ownership of the Norco and Convent refineries in Louisiana and 11 distribution terminals.