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Thndr Claps » Saudi Claps » Energy🔋 » Aramco acquires US Refiner Motiva’s trading arm

Aramco acquires US Refiner Motiva’s trading arm

by Omar El Shorafa
January 18, 2023

The Clap
Saudi Aramco acquired the trading arm of Motiva, an oil refinery company based in the US.

What
In the process, Aramco also established Aramco Trading Americas LLC (ATA), which is to act as the trading hub for Aramco in the Americas region.

So What
The acquisition comes as part of Aramco’s plan to expand its operations into the Americas, a key step in the company’s growth strategy.

Now What
Aramco is planning to IPO its energy trading business, which is expected to be valued at more than  $30bn.

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