SAUDI ARABIA - Motiva Enterprises.Saudi Aramco's main market share investment is in the US, Riyadh's principal ally, where Star Enterprise's merger with Shell, done in the first half of 1998, created the biggest downstream venture in the south and east of the American market. The venture, Motiva Enterprises Motiva Enterprises, LLC, is a 50-50 joint venture between Shell Oil Company (the American wholly owned subsidiary of Royal Dutch Shell) and Saudi Refining (a wholly owned subsidiary of Aramco Services Company, which itself is a wholly owned subsidiary of Saudi Aramco). based in Houston, has four refineries with a total capacity of 823,000 b/d and about 14,000 retail stations, together with storage and terminal facilities. Motiva's share of the US market now is about 8%.
Having raised its stake in Motiva to 50% under an Oct. 9, 2001 deal with ChevronTexaco, with Shell holding the other half, Saudi Aramco Saudi Aramco, the state-owned national oil company of Saudi Arabia, is the largest oil corporation in the world and the world's largest in terms of proven crude oil reserves and production. is hoping that a restructuring of this complex venture would turn it around as it has been making a loss.
Motiva's assets used to be bigger before the 1998 merger. As required by the FTC FTC
See Federal Trade Commission (FTC). , the company had to sell a refinery, numerous retail stations and some oil pipeline and terminal facilities before the merger was approved. Saudi Aramco's equity is held by its Houston-based unit Saudi Refining Saudi Refining, Inc., (SRI) with headquarters in Houston, purchases and sells crude oil and maintains a significant inventory of crude oil outside the United States. SRI has an interest in a limited liability company known as Motiva Enterprises, LLC. Inc. (see detailed background in the previous survey of Saudi Arabia Saudi Arabia (sä`dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop. in Vol. 53).
Under the Oct. 9 deal with ChevronTexaco, Shell bought the whole of Equilon. Thus it became the largest gasoline gasoline or petrol, light, volatile mixture of hydrocarbons for use in the internal-combustion engine and as an organic solvent, obtained primarily by fractional distillation and "cracking" of petroleum, but also obtained from natural gas, by retailer in the US, with a 14.4% share of this market. To compare, the biggest energy company in the US, ExxonMobil, has a 12% share of the American market which is equal to that of BP. ChevronTexaco now is the second largest US energy company next to ExxonMobil but its share of the American gasoline market is much smaller than those of BP and ExxonMobil.
ExxonMobil, already the biggest single investor in Saudi Arabia's downstream sector, leads two consortia which would invest over $25 bn in integrated mega-ventures in the kingdom based on natural gas. Shell, which leads one consortium for ventures based on gas, is the second biggest investor in the Saudi downstream.
Units of Motiva and Equilon, Equiva Trading and Equiva Services, were created in 1998 to provide the two entities with vital operational support. They and Motiva have strengthened Saudi Aramco's position as the biggest crude oil exporter to the US, with supplies averaging between 1.35-1.4m b/d (see OMT (Object Modeling Technique) An object-oriented analysis and design method developed by James Rumbaugh. See Rational Rose.
OMT - Object Modelling Technique No. 18).
Equiva Trading now has Texaco's stake in an e-retailing company called HoustonStreet. ChevronTexaco has major stakes in several e-trading firms in the US, including a bunkering bun·ker·ing
The act or process of supplying a ship with fuel. service venture called OceanConnect and a gas and power seller called Dynegy.