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_______________________________________________________________________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
July 1, 1998
__________________________________
SHELL OIL COMPANY
(Exact name of Registrant as specified in its Charter)
Delaware 1-2475 13-1299890
(State of Incorporation) (Commission File Number) (IRS Employer I.D. Number)
One Shell Plaza, Houston, Texas 77002
(Address of principal executive offices, including ZIP code)
(713) 241-6161
(Registrant's telephone number, including area code)
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Item 5. Other Events
On July 1, 1998 Shell Oil, Texaco Inc. (Texaco) and Saudi Arabian Oil
Company (Saudi Aramco) jointly announced the formation and operational start-
up of Motiva Enterprises LLC (Motiva), a joint venture combining major
elements of the three companies' eastern and Gulf Coast U.S. refining and
marketing businesses including assets previously held by Star Enterprise, a
partnership of corporate affiliates of Texaco and Saudi Aramco. Shell Oil has
35 percent ownership of Motiva, and Texaco and Saudi Refining,Inc., a
corporate affiliate of Saudi Aramco, each have 32.5 percent ownership of the
company (such ownership to be subject to adjustment in the future based on
the performance of the assets.)
Shell Oil issued a press release on the same date entitled "Shell, Texaco
and Saudi Aramco Announce Formation and Operational Start-Up of Motiva
Enterprises." This press release contains additional information regarding
Motiva and certain service companies to be formed by Motiva and Equilon
Enterprises Inc. ("Equilon"), a separate joint venture formed in January of
this year owned by Shell and Texaco. A copy of such press release is attached
hereto as Exhibit 99.1 and made a part hereof.
The exploration, production and chemical businesses of Shell Oil, Texaco
and Saudi Aramco are not included in either Motiva or Equilon.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99.1 Copy of press release issued by Shell Oil dated July 1, 1998,
entitled "Shell, Texaco and Saudi Aramco Announce Formation and
Operational Start-Up of Motiva Enterprises."
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SHELL OIL COMPANY
By: /s/ S. J. Paul
_____________________
S. J. Paul
Assistant Corporate Secretary
Date: July 1, 1998
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Exhibit 99.1
SHELL, TEXACO AND SAUDI ARAMCO ANNOUNCE
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FORMATION AND OPERATIONAL START-UP OF MOTIVA ENTERPRISES
________________________________________________________
HOUSTON, July 1, 1998 -- Shell Oil Company, Texaco Inc. and Saudi Aramco
today announced the formation and operational start-up of Motiva Enterprises
LLC, a joint venture combining major elements of the three companies' eastern
and Gulf Coast U.S. refining and marketing businesses. Shell has 35 percent
ownership and Texaco and Saudi Refining, Inc., a corporate affiliate of Saudi
Aramco, each have 32.5 percent ownership of the company.
Motiva Enterprises LLC, headquartered in Houston, will market under the
Shell and Texaco brands. L. Wilson Berry, formerly President of Texaco
Refining and Marketing Inc., is President and Chief Executive Officer of
Motiva Enterprises.
In January 1998, Shell and Texaco announced the formation and operational
start-up of a separate joint venture under the name Equilon Enterprises LLC.
Equilon Enterprises combines the major elements of Shell's and Texaco's
western and midwestern U.S. refining and marketing businesses and their
nationwide transportation and lubricants businesses. Shell has a 56 percent
ownership in Equilon Enterprises and Texaco owns 44 percent of the company.
In addition to Motiva Enterprises, the companies also announced the
formation of two jointly owned units that will support the operations of both
Motiva Enterprises and Equilon Enterprises. Equiva Services LLC will provide
administrative support services to the joint venture companies, while Equiva
Trading Company will function as the companies' trading unit.
Seth L. Sharr, formerly President and CEO of Star Enterprise, the
refining and marketing joint venture between subsidiaries of Texaco and Saudi
Aramco, will be President of Equiva Services LLC. Arthur A. Nicoletti,
formerly President of Texaco Trading and Transportation Inc., will serve as
President of Equiva Trading Company. Both units will be based in Houston.
The exploration, production and chemical businesses of Shell, Texaco and
Saudi Aramco are not included in either of the alliances.
Shell Oil Company is a Houston-based affiliate of the Royal Dutch/Shell
Group of Companies. Texaco Inc. is based in White Plains, N.Y. Saudi Aramco
is the state-owned oil company of the Kingdom of Saudi Arabia. The company's
U.S. corporate affiliate Saudi Refining, Inc. is based in Houston.
For more information contact: Shell Oil Company
Kitty Borah, Stacy Hutchinson, 713-241-4544
Sarah Payne
Texaco
Paul Weeditz (Houston) 713-752-6475
Shawn Frederick (Houston) 713-752-4672
Saudi Refining, Inc.
Henry Hayes 713-432-4149
Bill Tracy 713-432-4645
