Shell Plc (SHEL)

[eFinanceMarkets]

Shell, Aramco divide up Motiva JV assets

Royal Dutch Shell (RDS.A, RDS.B) and Saudi Aramco complete the separation of the assets, liabilities and businesses of their U.S.-based refining and marketing joint venture.

Shell now holds sole ownership of the 235K bbl/day Norco refinery, where subsidiary Shell Chemical already operates a petrochemical plant, and the 242,250 bbl/day Convent refinery, which Motiva previously said will be integrated to create the Louisiana Refining System, as well as 11 distribution terminals.

Alongside retaining 24 distribution terminals, the Saudis take 100% ownership of the 600K bbl/day Port Arthur, Tex., refinery and maintains an exclusive, long-term license to use the Shell brand for gasoline and diesel sales in several southern U.S. states.