10.05.2017 • News

Saudi Aramco Completes Buy of Shell’s Port Arthur Refinery Stake

Saudi Aramco has now taken full control of the Port Arthur refinery in Texas, which it up to now has operated as a 50:50 joint venture, Motiva Enterprises, with the Shell group. Plans for the transaction were announced last year. Port Arthur is the US market’s largest oil refinery.

Along with the refinery, Aramco is also acquiring from Shell full ownership of 24 distribution terminals, giving it the exclusive right to sell Shell-branded gasoline and diesel in seven Southern US states.

Global petrochemical markets are now seeing a string of new overseas investment by Saudi players as part of the Vision 2030 drive launched by Crown Prince Mohammed bin Salman in 2016 to diversify the Kingdom’s sources of income away from crude oil.

 

Virtual Event

Outsourced Biomanufacturing
Strategic Outsourcing in Biopharmaceuticals

Outsourced Biomanufacturing

April 22, 2026 | Join biopharma professionals, CDMO leaders, and supply chain innovators for a virtual event exploring the future of outsourced biomanufacturing.

Expert Insights

ADCs for Precision Cancer Therapy
Comprehensive Insights into Antibody–Drug Conjugates

ADCs for Precision Cancer Therapy

Explore how antibody-drug conjugates are reshaping precision cancer therapy and discover what it takes to successfully develop, manufacture, and scale these complex biologics.

Top-Feature

most read

Photo
News • Chemistry

VCI Welcomes US-EU Customs Deal

The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.