Saudi Aramco announced a reorganization of its US trading arms on 18 January. Its wholly-owned US trading entity Motiva Trading has been acquired by Aramco Trading Company (ATC), giving ATC oversight over all of Aramco’s global petroleum trading operations.
The firm has now established Aramco Trading Americas LLC (ATA) which is based in Houston, Texas. “Under the purchase agreement, ATA will be the sole supplier and ‘offtaker’ of Motiva Enterprises, which owns North America’s largest refinery with a crude refining capacity of 630,000 barrels a day, producing consumer and commercial grade fuels and base oils,” Aramco says. (CONTINUED - 298 WORDS)