;
Home / Knowledge / News / Textiles / Motiva signs MoUs signalling expansion into petrochemicals
Motiva signs MoUs signalling expansion into petrochemicals
11
Apr '18
Courtesy: Motiva
Courtesy: Motiva
Motiva Enterprises LLC, which owns and operates North America’s largest refinery, has signed memorandums of understanding (MoUs) with TechnipFMC and Honeywell UOP to enable multi-billion-dollar investments in petrochemical sector. Under the MoUs, the companies will study potential petrochemical projects utilising each companies’ technology.

Motiva is wholly-owned by affiliates of Saudi Aramco. The signing of the MoUs coincided with the recent official visit to the United States by the Crown Prince of Saudi Arabia, Mohammed bin Salman.

“These agreements signal our plans for expansion into petrochemicals,” said Brian Coffman, president and CEO of Motiva. “We are excited to work more closely with these leaders in the industry to further assess our opportunities for investment.”

One of the MoUs paves the way to evaluate the use of TechnipFMC’s world scale mixed-feed ethylene production technologies in the US. The second MOU enables Motiva to examine the use of Honeywell UOP’s world scale aromatics extraction and production technologies for benzene and paraxylene for development of a potential complex along the US Gulf Coast.

The MoUs are a first step in Motiva’s expansion into petrochemicals. Final investment decisions on these projects are not expected to be made until 2019 and are dependent on strong economics, competitive incentives, and regulatory support, Motiva said in a press release.

Headquartered in Houston, Texas, Motiva refines, distributes and markets petroleum products throughout the US. Its refinery in Port Arthur, Texas has a crude capacity of 630,000 barrels a day. The company also operates the country’s largest lubricant plant. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pxhere

Textiles | On 24th Jan 2019

Cabinet okays National Bench of GST Appellate Tribunal

The Union Cabinet, chaired by Prime Minister Narendra Modi, has...

Piyush Goyal likely to present Interim Budget 2019-20

Textiles | On 24th Jan 2019

Piyush Goyal likely to present Interim Budget 2019-20

Minister of railways Piyush Goyal is likely to present Interim Budget ...

Courtesy: Pxhere

Textiles | On 24th Jan 2019

China's textile & apparel exports up 3.5% in 2018

Textile and apparel exports from China increased by 3.5 per cent...

Interviews View All

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Milind Khandwe, Hindoostan Innovation Centre

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search