Media

Saudi Arabian Oil Company ("Saudi Aramco") finalized with Royal Dutch Shell plc (“Shell”) the execution of definitive agreements to separate and transfer the assets, liabilities and businesses of the Motiva Enterprises LLC (“Motiva”) joint venture.

To better capitalize on its long-term license for the 76^® brand, Motiva Enterprises LLC announced today the formation of its new 76^® sales and marketing team. The new team, which is a part of Motiva’s fuels, sales and marketing organization, will establish the go-to-market commercial strategy for the 76^® brand in Motiva’s operating geography, which includes 26 gulf and east coast states and Washington D.C.

Employee Contributions Will Be Matched and Volunteer Efforts Launched.

Saudi Arabian Oil Company ("Saudi Aramco") through its wholly owned Saudi Refining Inc. ("SRI") subsidiary and Royal Dutch Shell plc ("Shell"), through its U.S. downstream affiliate, announce today they have signed a non-binding Letter of Intent to divide the assets of Motiva Enterprises LLC. The Motiva joint venture was formed in 1998 and has operated as a 50/50 refining and marketing joint venture between the parties since 2002.

Motiva Enterprises LLC (Motiva) announced today its intention to form a products supply and trading organization for transport fuels and refinery intermediates. The insourcing of this activity will give Motiva greater flexibility to capture market opportunities.