Royal Dutch Shell announced on March 6 the signing of binding definitive agreements between SOPC Holdings East, a US downstream subsidiary of Shell and Saudi Refining (SRI), a wholly owned subsidiary of Saudi Aramco, on the separation of assets, liabilities and businesses of Motiva Enterprises, 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, Shell said. This value will ...

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