I haven't read the article yet, I will in about 30 seconds, but this is what I think we'll read. Prince Salman, Saudi Aramco, Saudi Arabia are in desperate straits. They are embarking on a huge pln to transition from E&P to refining. And they don't have many places to do that: essentially the Araiban peninsula and along the Texas coast.
That means one thing: a lot of Saudi money is going to flow into Texas.
Think about that. Wow.
Now to read the article. Wow, did I hit the nail on the head, or what? Here's the lede:
Saudi Arabia’s Motiva Enterprises said it plans to spend billions of dollars more to expand its Port Arthur Refinery — already North America’s largest — and grow more in the petrochemical and refining sectors.More at the link, but that's the gist.
Motiva, which finalized its divorce from Royal Dutch Shell in the beginning of May, said it plans to spend close to $18 billion in the U.S., largely along the Gulf Coast, within the next five years.
Although scant on details, this comes after Motiva already expanded the Port Arthur Refinery in recent years. Motiva emphasized it will continue to expand its crown jewel asset in Texas near the Louisiana border.