- Move strengthens Aramco Trading Company’s global operations and extensive portfolio, with incremental access to the largest oil refinery in North America
Dhahran, Saudi Arabia: Aramco today announces the 100% acquisition of Motiva Trading by the Aramco Trading Company (ATC), one of the world’s leading commodity trading companies, and the launch of Aramco Trading Americas LLC (ATA), a wholly-owned subsidiary of ATC based in Houston, Texas.
ATA will be ATC’s regional office, expanding its trading business in North and South America to capture new opportunities and increase its existing customer base.
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.
Mohammed K. Al-Mulhim, President & CEO of ATC, said: “The acquisition of Motiva Trading and the establishment of Aramco Trading Americas are a giant step towards executing our ambitious global growth strategy, which aims to expand our geographical reach and scale of operations, while further strengthening our product flexibility and optionality.”
With the launch of ATA, ATC brings its business closer to customers and provides them significant access to the world’s robust hydrocarbon system, which will significantly strengthen its value chain globally.
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About Aramco
Aramco is a global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com
Contact Information
International Media Relations: international.media@aramco.com
Aramco
About ATC
Aramco Trading Company (ATC) is the trading arm of Aramco that trades crude, refined products, LNG, and LPG, blending components, bulk petrochemicals, and polyolefins. To reach out to a wider customer base and to maximize trading opportunities, ATC strategically maintains storage and blending facilities in major trading hubs, customizing product specs to meet customer demand.
ATC now has five global offices in KSA, the UAE, Singapore, the UK and the US to support this integration model. With our growing geographical reach, ATC has broader access to markets, a wider client base, a diversified workforce, and a more sophisticated and integrated global business model. Today, the company is recognized globally as a critical trading partner for refiners, shipping companies, financial institutions, end-users, and other product-trading companies.
Contact information:
Corporate Affairs Manager
Rakan Al Mansour
E-mail: rakan.almansour.1@aramcotrading.com
