Aramco Trading trades 6 mln bpd of crude, products: Al-Buainain

 Ibrahim Al-Buainain Senior Vice President Sales, Trading & Supply Planning  

Aramco Trading Co.’s (ATC) is currently trading 6 million barrels per day (bpd) of crude and products, Aramco Senior Vice President of Sales, Trading and Supply Planning, Ibrahim Al-Buainain told Reuters today, Feb. 7, at the Indian Energy Week event in Bengaluru.

“We’re expanding and recently we opened Aramco Trading America (ATA),” Al-Buainain added.

In January, Saudi Aramco announced the 100% acquisition of Motiva Trading by ATC, and the launch of Aramco Trading Americas LLC (ATA), a wholly-owned subsidiary of ATC based in Houston, Texas, Argaam reported.

Under the purchase agreement, ATA will be the sole supplier and “offtaker” of Motiva Enterprises. The latter 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.

According to Argaam data, the Saudi exports of crude oil declined 6% in November 2022 to reach 7.28 million bpd, compared to the previous month. The Kingdom’s oil production decreased 4% to 10.47 million bpd month-on-month, reaching the lowest level in seven months.

Compared to November 2021, Saudi oil exports rose 5%.