Motiva Enterprises LLC and an affiliate of Flint Hills Resources announced that they have signed an agreement for Motiva to acquire a 100% ownership interest in Flint Hills Resources Port Arthur, LLC. The potential acquisition is targeted to close in the fourth quarter of 2019, subject to satisfaction of closing conditions. The parties will not be disclosing the terms of the transaction.

About Motiva

Headquartered in Houston, Motiva refines, distributes and markets petroleum products throughout the United States. Motiva owns and operates North America’s largest refinery in Port Arthur, with a crude capacity of more than 630,000 barrels a day. The company also operates the country’s largest lubricant plant. Motiva is wholly-owned by affiliates of Saudi Aramco.

About Flint Hills Resources

About Flint Hills Resources - Flint Hills Resources is an industry leader in refining, chemicals, and biofuels and ingredients, with operations primarily in Texas and the Midwest. Its manufacturing capability is built upon six decades of refining experience, and the company has expanded its operations through capital projects and acquisitions worth more than $15 billion since 2002. Flint Hills Resources’ subsidiaries produce and market gasoline, diesel, jet fuel, asphalt, ethanol, biodiesel, liquefied natural gas, olefins, polymers, intermediate chemicals, as well as base oils, distillers corn oil and distillers grains. Based in Wichita, Kansas, the company has more than 4,500 employees and is a wholly owned subsidiary of Koch Industries, Inc.