PORT ARTHUR - The largest refinery in the United States, Motiva's Port Arthur Refinery, is now completely Saudi owned.
The refinery, which was previously jointly owned by Royal Dutch-Shell and Saudi Aramco, is now wholly owned by Saudi Aramco according to a release from Royal Dutch Shell.
The Motiva Port Arthur refinery processes 600,000 barrels of oil daily according to the Motiva website.
Motiva announced in March 2016 that Saudi Aramco would be taking control of the refinery accoring to a release from Motiva at the time.
The completion of the transfer of ownership was announced on Monday, May 1, 2017, in a release from Shell.
Saudi Aramco will be assuming full ownership of the "Motiva Enterprises LLC" name, the Port Arthur Refinery and 24 distribution terminals according to the release from Shell.
Motiva will also have the right to exclusively sell Shell-branded gasoline and diesel in Georgia, North Carolina, South Carolina, Virginia, Maryland and Washington, D.C., as well as the eastern half of Texas and the majority of Florida according to the release.
Shell will assume sole ownership of the refineries in Norco and Convent, La., 11 distribution terminals and the right to sell Shell-branded products in Alabama, Mississippi, Tennessee, Louisiana, a portion of the Florida panhandle, and the North-eastern region of the U.S.
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