Saudis See Chemical, Oil-Refining Bonanza Along U.S. Gulf Coast - Bloomberg

Saudis See Chemical, Oil-Refining Bonanza Along U.S. Gulf Coast - Bloomberg:

"Saudi Arabia signaled its intent to expand chemical production along the U.S. Gulf Coast and potentially double the size of North America’s biggest oil refinery. The kingdom’s state-owned crude producer is joining with U.K. oilfield-services firm TechnipFMC Plc to assess the potential for producing ethylene, a key component in plastics, Saudi Aramco’s Motiva Enterprises LLC unit said in a statement Saturday. A second accord with Honeywell International Inc. could lead to the construction of a new manufacturing complex in the heart of the U.S. petrochemicals industry. In a separate presentation at a lavish reception for Saudi Crown Prince Mohammed bin Salman in Houston, Motiva said it’s considering doubling the size of its refinery in Port Arthur, Texas. The announcement comes less than a year after Aramco paid $2.2 billion to Royal Dutch Shell Plc to gain sole control of the Port Arthur plant and some other Motiva assets the two companies controlled as part of a joint venture."



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