Aramco Eyes Trading Growth

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Saudi Aramco's trading arm expects to increase the volume of crude oil and petroleum products it trades by roughly 45% over the next five years.

Aramco CEO Amin Nasser told the Energy Intelligence Forum that the volumes traded by Aramco Trading Co. (ATC) had "reached almost 5.5 million barrels per day" and were expected "to reach 8 million b/d over the next five years."

“We have seen significant growth in its portfolio and volumes traded,” he said in an interview as part of the online Forum on Monday.

ATC had said in 2019 that it was targeting traded volumes of 5.5 million b/d in 2021, supported by growth in Aramco's downstream business.

The trading unit has storage and blending facilities on Saudi Arabia's Red Sea coast, Egypt's Red Sea and Mediterranean coasts, in the United Arab Emirates, and in Singapore and Rotterdam.

Nasser said ATC is also working to ensure that it can meet future requests for net-zero emission products, if customers should ask for them.

He also confirmed that ATC had branched out into LNG. "Even though we don't produce any LNG here in the kingdom, they are trading LNG as well," he said.

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