Aramco Launches Aramco Trading Americas
- Publish date: Wednesday، 18 January 2023
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Saudi Aramco launched Aramco Trading Americas LLC (ATA), a wholly-owned subsidiary of ATC based in Houston, Texas, and acquired 100 percent of Motiva Trading, it said on Wednesday.
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The company said “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 acquisition of Motiva Trading and the establishment of Aramco Trading Americas is 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.
The new entity will be the sole supplier and ‘offtaker' of Motiva Enterprises, the owner of North America’s largest oil refinery with a crude capacity of 630,000 barrels a day of consumer and commercial-grade fuels and base oils.