Thread: Saudi oil giant takes full command of largest U.S. oil refinery, hopes for $2T IPO

Saudi oil giant takes full command of largest U.S. oil refinery, hopes for $2T IPO


Prince Mohammed bin Salman waits for Gulf Arab leaders ahead of the opening of Gulf Cooperation Council summit, in Riyadh, Saudi Arabia, May 14, 2012. Saudi Arabia’s second-in-line to the throne, Deputy Crown Prince Mohammed bin Salman, will meet President ... more >

By Douglas Ernst - The Washington Times
Monday, May 1, 2017

The largest oil refinery in America — and the 600,000 barrels processed per day in Texas — is now officially owned by Saudi Aramco.

Royal Dutch Shell (RDSA) released a statement Monday on the “completion” of a deal between the two oil giants, which has been in progress for the last year. The company, known as Motiva Enterprises LLC, relinquished its 50 percent ownership of the Port Arthur refinery.

“Saudi Aramco (through its wholly owned Saudi Refining, Inc. subsidiary) assumes full ownership of the Motiva Enterprises LLC name and legal entity, including the refinery at Port Arthur, Texas and 24 distribution terminals,” the company’s statement said.

“Additionally, Motiva has the right to exclusively sell Shell-branded gasoline and diesel 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.”

The Gulf Coast refinery deal comes less than two months after President Trump met with Deputy Crown Prince Mohammed bin Salman at the White House.

“This meeting is considered a historical turning point in relations between both countries and which had passed through a period of divergence of views on many issues,” a senior adviser to Prince Mohammed said in a statement released March 14. “The meeting today restored issues to their right path and form a big change in relations between both countries in political, military, security and economic issues.”

Saudi Arabia “is hoping the Aramco IPO [in 2018] will be valued at a stunning $2 trillion,” CNN reported Monday. “The kingdom continues to grapple with low oil prices and a bloated budget, making it critical that the Aramco IPO goes off without a hitch.”

http://www.washingtontimes.com/news/...largest-us-oi/

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Trump registered eight companies in Saudi Arabia during campaign: report

BY REBECCA SAVRANSKY - 11/21/16 09:30 AM EST 852

President-elect Donald Trump registered eight companies during his presidential campaign that appear to be tied to hotel interests in Saudi Arabia, according to a report in The Washington Post.

Trump registered the companies in August 2015, shortly after launching his presidential bid, according to The Post.

The companies were registered under names such as THC Jeddah Hotel and DT Jeddah Technical Services, according to financial disclosure filings.The names of the companies registered appeared similar in pattern to how Trump named other companies connected to hotel deals registered in foreign cities, according to the Post. Trump names companies after cities in the state in which he is dealing with. Jiddah, also spelled Jeddah, is the second-largest city in Saudi Arabia, located on the Red Sea coast about 60 miles west of Mecca.

The Post reported that by the time of Trump's May financial filing, four of those companies in which Trump was the president or director were still active.

Trump has in the past said he wants to protect the oil-rich Arab kingdom.

During a rally on August 21, the day Trump created four of those companies, he said he gets along well with Saudi Arabia.

"They buy apartments from me," Trump said during the Alabama rally. "They spend $40 million, $50 million. Am I supposed to dislike them? I like them very much.”

In January of this year, Trump said on Fox News he "would want to protect Saudi Arabia.

"I would want to protect Saudi Arabia," he said during the interview. "But Saudi Arabia is going to have to help us economically. They were making, before the oil went down ... they were making $1 billion a day.”

During his presidential campaign, the president-elect often called out his Democratic rival, Hillary Clinton, for accepting money from Saudi Arabia for the Clinton Foundation.

http://thehill.com/blogs/blog-briefi...n-saudi-arabia

Trump to Visit Israel, Saudi Arabia and the Vatican

Saudis bought USA just like they did Europe - look at Europe now, see America tomorrow - muslims and chinese will own everything due to the SELLOUT FROM OUR POLITICIANS SO THEIR BREAD CAN BE BUTTERED. - DISGRACEFUL!

Thank president ryan = un-American traitors.

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