Saudi Aramco’s US subsidiary Motiva will be the main beneficiary of the Saudi state-owned company’s plan to invest over $18bn in US downstream and petrochemicals projects. “Aramco has announced plans to invest in the US using the Motiva platform to grow,” Saudi oil minister Khalid al-Falih said on 25 May. “That will include perhaps mergers and acquisitions activities of existing assets that can be synergistic with Port Arthur” — a reference to Motiva’s 600,000 b/d refinery in Port Arthur, Texas.
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