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New Motiva CEO says no decision yet on expansion

Reuters  |  HOUSTON 

HOUSTON (Reuters) - Motiva Enterprises' [MOTIV.UL] new Chief Executive Officer Brian Coffman said on Friday that no decision has been made on how to spend $18 billion corporate parent Saudi Aramco [IPO-ARMO.SE] has pledged for expansion.Aramco said in May 2017 it wanted to spend $18 billion in the next five years and was interested in adding petrochemical production capacity. The company's 603,000 barrel per day plant at Port Arthur, Texas, is the largest refinery in the United States."We're evaluating investment, obviously." Coffman said to reporters at the CERAWeek conference in Houston. ...

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First Published: Sat, March 10 2018. 00:08 IST