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.
Shell Catalysts & Technologies (SC&T) has successfully completed the expansion of its Port Allen, Louisiana plant in the United States, doubling its capacity ...
(WEBINAR) - Discover the benefits of applying the latest technology in modern, low-temperature Shell Claus offgas treating (SCOT™) units. See how next-generation, ...
AMG Advanced Metallurgical Group N.V. and Shell Catalysts & Technologies have signed an agreement to form a joint venture which will be called Shell & AMG Recycling ...
This webcast from Shell Catalysts & Technologies, discusses proven technologies for capturing CO2 from both low and high-pressure streams. Are You… • ...
Royal Dutch Shell plc today announced that its affiliates formerly operating under the CRI, Criterion and Shell Global Solutions tradenames will now operate under the ...
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, ...
RWE npower’s carbon capture pilot plant at Aberthaw Power Station – the first of its kind in Wales and one of the largest to be built so far in the UK – ...
KBR and Shell Global Solutions International B.V. today announced the formation of a new alliance in which KBR will market, sell and provide technology and design packages ...
Shell Global Solutions International B.V. (Shell Global Solutions) has signed an agreement with the South Refineries Company of Iraq, for the provision of technology ...
Shell and Paques Holding B.V. have agreed upon the formation of a 50-50 joint venture, Paqell B.V., to focus their efforts on the marketing of biological desulphurisation ...