Largest U.S. Refinery now belongs to Saudi Arabia

If we thought my earlier post U.S. giving away ownership and control of our Energy and refineries 

Saudi Aramco to target US refiners, chemical plants after Shell breakup CNBC. Ed: The intention? They are hurting with the price of gas now in the cellar. What a nice way to try to control prices.

The two companies signed a nonbinding letter of intent, a plan that would divide up Motiva’s refineries between them. The refineries have a combined capacity of 1.1 million barrels per day and are all located close to each other. The breakup will allow Saudi Aramco to take over the Port Arthur refinery and 26 distribution terminals, and Aramco will also hold onto the Motiva brand name. Shell will take over the other two refineries, Convent and Norco, both located in Louisiana. Shell said that it would operate the two refineries as one plant with a combined throughput of 500,000 barrels per day.

More USA Today

 

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