Shell and Saudi Arabia's national oil company Saudi Aramco have completed their transaction to separate assets, liabilities and businesses of Motiva, their 50-50 joint venture Motiva in the United States.
Saudi Aramco retains the Motiva name, assume sole ownership of the 600,000 bbl/d Port Arthur refinery in Texas and 24 distribution terminals, and have an exclusive license to use the Shell brand for gasoline and diesel sales 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.
Shell assumes sole ownership of the 235,000 bbl/d Norco refinery in Louisiana (where Shell operates a chemicals plant), the 230,000 bbl/d Convent refinery in Louisiana, eleven distribution terminals, and Shell branded markets in Alabama, Mississippi, Tennessee, Louisiana, a portion of the Florida panhandle, and the North-eastern region of the United States.
The 50-50 refining and marketing joint venture Motiva was formed in 1998 to carry out operations in the United States since 2002. The separation, announced in March 2016, was initially expected to be completed in October 2016.
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