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Royal Dutch Shell and Saudi Aramco unwind US joint venture

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Screen Shot 2016-03-16 at 22.36.32Royal Dutch Shell and Saudi Aramco are unwinding their US refining and marketing joint venture as they pursue separate strategies for their operations. The deal will give the state-owned Saudi group full ownership of the largest refinery in North America.

The Motiva joint venture, which is owned 50/50 by the two companies and operates three refineries and a distribution and marketing business in the US, will be broken up and the assets distributed between them.

There is also expected to be a cash payment from Saudi Aramco to Shell…

FULL FT ARTICLE

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