The plans were revealed by Motiva Enterprises, a wholly-owned affiliate of Saudi Aramco, headquartered in Houston, Texas.
Motiva believes that it would become one of the safest and profitable downstream player in the US after the investment from its parent company.
The company said that in the next five years, it will explore opportunities to boost refining capacity, foray into chemicals, and expand its commercial operations, marketing and branded presence.
Motiva was established in 1998 as a 50/50 joint venture between Saudi Aramco’s subsidiary Saudi Refining and a US downstream affiliate of Royal Dutch Shell. As of 1 May 2017, the joint venture was scrapped with the assets divided between the partners.
Motiva president and CEO Dan Romasko said: “With the joint venture separation behind us, there is a real sense of self-sufficiency at Motiva.
“Our employees have embraced the changing culture, which has turned Motiva into a more agile organization. We have given employees added responsibility, but at the same time empowered them to make decisions and be accountable for our results.”
Following the termination of the 19-year-old joint venture, Saudi Refining had retained the Motiva name and has become the owner of the Texas-located Port Arthur refinery among other assets.
Motiva had recently expanded the largest hydrocracking unit and diesel hydrotreater of the Port Arthur refinery to increase its capacity by 30%.
Motiva is also building a new marine terminal and related facilities at the Port of Port Arthur with Northstar Terminals which is slated to be completed in July.
