Saudi Aramco took the first steps to integrating a petrochemicals business into the United States’ biggest oil refinery, which is operated by its subsidiary Motiva Enterprises. Aramco’s Chief Executive Amin Nasser signed memoranda of understanding (MoUs) worth $8 billion-$10 billion with Honeywell UOP ( HON.N ) and Technip FMC ( FTI.N ) to study petrochemical production technology for use in a chemical plant the company is considering building at the Port Arthur refinery. Saudi Arabia’s Crown Prince Mohammed bin Salman, who was winding up a two-week visit to the United States, was present at the signing in Houston, Texas, on Saturday along with Saudi Energy Minister Khalid al-Falih and U.S. Energy Secretary Rick Perry. […]