Saudi Arabia’s national oil company Saudi Aramco is looking for initial steps toward a multibillion-dollar chemical plant in Texas.
Saudi Aramco last year said it would invest $18 billion in Motiva’s Port Arthur refinery, which can process up to 603,000 barrels of crude oil per day (bpd).
Motiva wants to add an ethane cracker near its refinery that could produce more than 1.5 million tons of ethylene a year, the sources said.
Saturday’s announcement will also include an agreement with TechnipFMC (FTI.N) for a study of producing materials used in gasoline and industrial solvents.
