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Bloomberg
Saudi Arabia’s state oil company will soon sign an agreement with a British oilfield services firm to explore building chemical facilities in Texas, according to people familiar with the matter.
The agreement with TechnipFMC Plc involves a study for a potential chemical unit on the US Gulf Coast that would be able to produce materials used in gasoline and as industrial solvents, said the people, who asked not to be identified because the matter isn’t public. There will also be a study on a facility that can make ethylene, a key compound for making plastics. Saudi Aramco, through its Motiva Enterprises LLC subsidiary, owns North America’s largest refinery, in Port Arthur, Texas.