Aramco Trading to join Platts oil pricing process in Asia

Aramco Trading to join Platts oil pricing process in Asia

SINGAPORE - Aramco Trading Company (ATC) will be participating in S&P Global Platts' price assessment process for crude cargoes in Asia, the price reporting agency said on Wednesday.

Platts said in a notice that it had reviewed the trading arm of the world's top oil exporter Saudi Aramco, and would consider information from ATC in the Asia Market on Close (MOC) price assessment process for Asia crude cargoes.

Some industry players have raised concerns about a potential conflict of interest as ATC is wholly owned by Saudi Aramco and the Platts Dubai crude market structure is used by the world's top oil exporter to set monthly prices for millions of barrels of Saudi crude sold in Asia.