Saudi-owned Motiva Enterprises LLC suspended a $6.6 billion plan to add petrochemical facilities to its refining operations in Port Arthur, Texas, according to people familiar with the matter.
The decision to halt the project—which had envisioned the creation of the biggest refining and petrochemical operation in the U.S.—comes as Aramco dials back its diversification plans and refocuses on its core business of pumping oil and natural gas, according to the people.
