Saudi Aramco Acquires Largest Oil Refinery in North America

Saudi Aramco Acquires Largest Oil Refinery in North America

Saudi Aramco’s global trading arm has bought US firm Motiva Trading as it seeks to expand its footprint across North and South America.

As well as acquiring 100 percent of the firm, Aramco Trading Co. has also launched a Texas-based subsidiary – Aramco Trading Americas.

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.

According to Aramco, 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.

By allowing customers access to a sturdy hydrocarbon system, this is projected to bring about strength in the global value chain in the future, according to the statement.

“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 President and CEO of ATC Mohammed Al-Mulhim.

In another context, the Saudi oil producer has been involved in advanced discussions to take a stake