Motiva to trade refined products apart from co-owner Shell
Motiva to trade refined products apart from co-owner Shell
Motiva Enterprises said on Thursday it aims to trade its own gasoline, diesel and the components needed to make them in a new organization separate from its co-owner, Royal Dutch Shell.
Motiva, a 50/50 joint venture of Shell and Saudi Aramco , said in a statement that the move will more closely connect the company with fuels markets, customers and trading partners.
But Motiva said it will still rely on Shell to trade crude oil.
“With this change, we hope to provide greater value to them through more active participation in the market,” Motiva Chief Executive Dan Romasko said in the statement.
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