logo

You are currently viewing: News

Back

07-03-2017

Saudi Aramco and Shell achieve significant milestone to seperate Motiva assets

Royal Dutch Shell plc today announces the signing of binding definitive agreements between SOPC Holdings East LLC and Saudi Refining Inc. on the separation of assets, liabilities and businesses of Motiva Enterprises LLC, a 50/50 refining and marketing joint venture.
 
A balancing payment of $2.2 billion has been agreed between the parties, subject to adjustments including for working capital.  This value will be satisfied by a combination of SRI assuming more than its 50% share of Motiva’s net debt on completion and a cash payment for the balance.  As at 31 December 2016, Motiva’s total net debt was $3.2 billion, of which Shell will assume $0.1 billion, resulting in a deduction to the cash portion of the balancing payment of $1.5 billion.  As a result of the transaction no material effect is expected on gearing reported on the Shell balance sheet.
 
Subject to regulatory approval, the transaction is expected to close in the second quarter of 2017.

Sponsor:

News Category:

Other News Items

  • Responsive image Top Performer in Portable Fuel Analysis
  • Responsive image FCC catalyst solutions
  • Responsive image Level and density in FCC processes
  • Responsive image 6 - 8 May 2025,
    Dubai, UAE
  • Responsive image FCC Refining Catalysts
  • Responsive image Ejector Systems
  • Responsive image Chemical Treatments
  • Responsive image Smart solutions for valves and valve automation
  • Responsive image Solve the Industrial Data Problem
  • Responsive image Better analyses. Better decisions.
SPONSORS