By RUSSELL GOLD: Dec. 16, 2016 2:45 p.m. ET
The election of Donald Trump threatens to complicate efforts by Saudi Arabia’s national oil company to purchase refineries and expand its petrochemical footprint in the U.S.
Speaking in Louisiana earlier this month, he said: “We use refineries from other countries. The whole thing is just crazy. It’s crazy.”
That stance could complicate a continuing deal: Saudi Aramco and Royal Dutch Shell PLC are in talks to end a joint venture called Motiva Enterprises. The Saudi company, which is state owned and state controlled, has said it expects after negotiations are concluded to own the 603,000-barrel-a-day refinery in Port Arthur, Texas. Shell is expected to get two smaller refineries in Louisiana.
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