U.S. refiners find benefits in JVs with foreign partners

Anne Rhodes Refining/Petrochemical Editor A.D. Koen Senior Editor-News U.S./State Oil Company Joint Venture by Capacity Type [26935 bytes] Former Texaco Inc. refinery at Delaware City, Del., is among assets included in a joint venture Texaco formed with Saudi Aramco in 1988, giving Aramco a 50% share in Texaco's refining/marketing business in 23 U.S. East and Gulf Coast states and Washington, D.C. Photo courtesy Texaco. The search among U.S. refiners for an edge in domestic processing economics and products markets has spawned a handful of joint ventures with foreign partners. Driven by dismal refining margins and increasingly competitive retail markets, a h...

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