Motiva to Take Ownership of Flint Hills Chemical Plant in November
09.16.2019 By Greta Talmaci - NEWS

September 16, 2019 [Reuters] – Motiva Enterprises plans to take ownership of a Port Arthur, Texas, chemical plant from Flint Hills Resources in November, said sources familiar with the matter.

Motiva announced on Aug. 19 it would buy the chemical plant next door to its Port Arthur refinery from the Flint Hills Resources subsidiary of privately-held Koch Industries.

“The purchase agreement, which remains subject to regulatory approvals and various closing conditions, is anticipated to close by the end of 2019,” the company said in a statement on Tuesday.

Motiva, the U.S. refining arm of Saudi Aramco, plans to operate the chemical plant while it builds three giant petrochemical units within its Port Arthur complex as part of an $18 billion expansion of operations along the U.S. Gulf Coast, the sources said.

Ground is being prepared at three sites within the refinery for the petrochemical units, according to the sources. Motiva plans to make a final investment decision on building the three units by spring 2020.

————-

Click Here to Access Today a 4,900 Tank Terminal Database With a Pro Trial
Click on the button and register to get instant access to actionable tank storage industry data

UAE Invests Billions in AI to Diversify Economy Beyond Oil
11.13.2024 - NEWS
November 13, 2024 [Oil Price]- The United Arab Emirates’ state-owned energy giant Abu Dhabi Nat... Read More
Gulf Energy Transition: Assessing Saudi and Emirati Goals
11.13.2024 - NEWS
November 13, 2024 [The Washington Institute]- On October 29, during Saudi Arabia’s annual Futur... Read More
How will The Energy Sector Fare Under Donald Trump?
11.13.2024 - NEWS
November 13, 2024 [Investing Daily]- The energy sector experienced a notable boost following Dona... Read More
PNOC, Pertamina Partner on LNG Infrastructure, Supply Chain
11.13.2024 - NEWS
November 13, 2024 [Manila Bulletin]- State-run Philippine National Oil Company (PNOC) has signed ... Read More