Saudi Aramco launches Aramco Trading Americas
Aramco Trading Americas will be the sole supplier and ‘offtaker’ of Motiva Enterprises
Dhahran: Aramco acquired 100 per cent of Motiva Trading, and launched Aramco Trading Americas LLC (ATA), a wholly-owned subsidiary of ATC based in Houston, Texas it said on Wednesday.
“ATA will be Aramco Trading Company’s (ATC) regional office, expanding its trading business in North and South America to capture new opportunities and increase its existing customer base,” the company said in a statement.
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.
“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,” said Mohammed K. Al-Mulhim, President & CEO of ATC.