Aramco to spend US$18b on US ops over 5 years
HOUSTON: Saudi Aramco plans to spend US$18 billion (RM76.8 billion) over the next five years to expand its operations in the Americas, focusing on its United States oil refining unit Motiva Enterprises.
Motiva was exploring opportunities to boost refining capacity, branch into chemicals and expand its commercial operations, marketing and branded presence over the next five years, said the company on Thursday.
Motiva became a wholly owned subsidiary of Saudi Aramco on May 1 with the split of a 19-year partnership between Aramco and Royal Dutch Shell Plc.
Motiva emerged from the breakup with full ownership of a refinery in Port Arthur, Texas, which is the largest by volume in the US. It retained the Motiva name, distribution operations across seven states and rights to