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Royal Dutch And Saudi Aramco to Expand Motiva Enterprises
May. 31, 2012 07:31PM PST
Oil and Gas InvestingReuters reported that Royal Dutch Shell (NYSE:RDS.B) and Saudi Aramco plans to expand their joint-venture Motiva Enterprises Texas Gulf Coast refinery.
Reuters reported that Royal Dutch Shell (NYSE:RDS.B) and Saudi Aramco plans to expand their joint-venture Motiva Enterprises Texas Gulf Coast refinery.
As quoted in the market news:
The Motiva project was launched in 2007, when U.S. fuel demand was up and refinery capacity was seen as inadequate. That changed when the global financial crisis hit, slashing demand and prompting closures of several unprofitable refineries, particularly in the U.S. Northeast.