The Port Arthur refinery is one of three refineries in the Gulf of Mexico region owned by Motiva Enterprises, LLC, which is another 50-50 joint venture between Saudi Aramco and Shell Oil Company. Its expansion took 5 years and $10 billion to complete. But with the bad news of shutting down the expansion project on June 9, nine days after the opening ceremony, due to fire and unexpected extensive corrosion in the new distillation unit, the company executives declined to answer questions about the duration of the shutdown, causes of the problem, expenses of the repairs and losses of potential revenues.
MENAFN – Arab News – 03/07/2012
By 2005, Saudi Aramco had concluded that oil refining should go side by side with petrochemical production to compensate for the high operational costs or even losses of producing only refined oil products.
This major shift in Aramco’s investment planning was reflected on all but one partnerships and joint ventures.
Locally, Aramco established a joint venture company with Sumitomo Chemical, named Rabigh Refining & Petrochemical Company (PetroRabigh), to operate a 400,000-barrel capacity refinery in Rabigh city on the western coast of Saudi Arabia, which produces naphtha, kerosene, gasoline, diesel, fuel oil and many other petrochemical polymers.