VOL. XLVII

No 04

26-January-2004

SAUDI ARABIA

Motiva Joint Venture Plans To Sell Delaware Refinery

Motiva Enterprise, a joint venture between Shell and Saudi Aramco, has signed a letter of interest to sell its Delaware City refinery to the Premcor Refining Group. A statement issued by Shell on 14 January said the transaction is expected to close in the second quarter of 2004 after all regulatory and other approvals are obtained. The sale will take place for approximately $800mn, the statement...