Aramco acquires Motiva Trading Company

Aramco Trading Company (ATC) has announced the 100% acquisition of the American based oil company Motiva Trading and the launch of Aramco Trading Americas LLC (ATA), a wholly-owned subsidiary of ATC based in Houston, Texas.

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.

Under the purchase agreement, ATA will be the sole supplier and offtaker of Motiva Enterprises, which owns a refinery in North America with a crude refining capacity of 630,000 barrels a day, producing consumer and commercial-grade fuels and base oils.

Mohammed K. Al-Mulhim, President & CEO of ATC, said: “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.”