$12B expansion planned for Port Arthur refinery
Less than a month after taking sole ownership of Motiva Enterprises, Saudi Aramco announced this week the company intends to invest $12 billion to expand refining capabilities at Motiva in Port Arthur, already the United States' largest refinery.
The proposed Motiva investment - part of a larger $50 billion agreement with U.S. companies - was announced at a business summit in Saudi Arabia on Saturday that was attended by President Donald Trump, according to multiple news outlets.
Reuters, an international news company, reported on Tuesday that Saudi Aramco, the biggest oil company in the world, could invest up to $30 billion in Motiva by 2023 and would like to purchase a second Gulf Coast refinery.
Jefferson County Judge Jeff Branick said he was not aware of the proposed plans to expand Motiva in Port Arthur, saying local Saudi Aramco officials told him there was nothing yet to announce.
Read more: http://www.beaumontenterprise.com/news/article/12B-expansion-planned-for-PA-refinery-11172842.php
