Saudi refinery affiliate, Motiva buys crude oil over US sale...| MENAFN.COM

Friday, 07 October 2022 03:05 GMT

Saudi refinery affiliate, Motiva buys crude oil over US sales announcement


(MENAFN) According to the US Department of Energy (DOE) announcement on Thursday, the Motiva refinery in Port Arthur, Texas, which is an affiliate of Saudi oil company Aramco, is one of six firms to purchase 18.1 million barrels of crude oil from the US’ Strategic Petroleum Reserves (SPR).

Motiva, the biggest crude refinery in the US, refines more than 600,000 barrels of crude oil per day (bpd).

The DOE stated that a sum of 14 firms replied to the sale declaration on Dec. 17 of 18 million barrels of SPR crude oil via submitting 111 offers for evaluation.

Amongst the firms who won bids were ExxonMobil, Gunvor, Marathon Petroleum, Phillips 66, Valero as well as Motiva Enterprises.

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