Saudis See Chemical, Oil-Refining Bonanza Along U.S. Gulf Coast

[jpak]

https://www.bloomberg.com/news/articles/2018-04-08/aramco-confirms-accords-for-chemical-complex-study-in-u-s

Saudi Arabia signaled its intent to expand chemical production along the U.S. Gulf Coast and potentially double the size of North America’s biggest oil refinery.

The kingdom’s state-owned crude producer is joining with U.K. oilfield-services firm TechnipFMC Plc to assess the potential for producing ethylene, a key component in plastics, Saudi Aramco’s Motiva Enterprises LLC unit said in a statement Saturday. A second accord with Honeywell International Inc. could lead to the construction of a new manufacturing complex in the heart of the U.S. petrochemicals industry.

In a separate presentation at a lavish reception for Saudi Crown Prince Mohammed bin Salman in Houston, Motiva said it’s considering doubling the size of its refinery in Port Arthur, Texas. The announcement comes less than a year after Aramco paid $2.2 billion to Royal Dutch Shell Plc to gain sole control of the Port Arthur plant and some other Motiva assets the two companies controlled as part of a joint venture.

No formal investment decisions on the chemical projects are expected until 2019, according to Motiva’s statement. Still, the kingdom already has hired longtime Dow Chemical CEO Andrew N. Liveris to act as an adviser after he departs the Dow DuPont Inc. unit on July 1, Saudi Basic Industries Corp. CEO Yousef al Benyan said in an interview in Texas.

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[packman]

1. Fuck the environment

The Brits and the Arabs know that they have a friend in Trump - why go to a third world country now to build your petro plants when America will welcome you with open, dirty arms?

[dalton99a]

2. Gulf shrimp marinated in crude oil

It's a delightful delicacy