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Motiva says Shell, Saudi Aramco to split assets on April 1, 2017

Reuters - UK Focus

HOUSTON, Aug 30 (Reuters) - Motiva Enterprises LLC said on Tuesday the division of its U.S (Other OTC: UBGXF - news) . refining assets between Royal Dutch Shell Plc (LSE: 0LN9.L - news) and Saudi Aramco (IPO-ARMO.SE) is scheduled to take place on April 1, 2017.

The two Motiva partners announced this past March that they would divide their joint venture. The split was expected to take place in the fall of this year after completion of negotiations between Shell (LSE: RDSB.L - news) and Saudi Aramco over the division assets and compensation due the partners. (Reporting by Erwin Seba; Editing by Terry Wade)