Saudi Aramco Products Trading, the trading arm of Saudi Aramco’s downstream operations, recently marked a new chapter in the company’s history with the launch of its website (aramcotrading.com).
“This is a great moment for Aramco Trading,” said Hanan M Olayan from the Aramco Trading operations team. “This will open the door for future opportunities for our company through a platform that tells the Aramco Trading story.”
The company’s story began in 2010, when the Saudi Aramco Board of Directors established it as a subsidiary. By January 2012, the company began trading refined, liquid chemical, and polymer products.
The affiliate hit the ground running, managing a daily average of 680,000 barrels of products within the first months of operations internationally, then adding gasoline storage and blending to their list of services by 2013.
It now trades about 1.5 million barrels of refined, liquid chemical and polymer products every day across the globe — including Europe, the Americas, Africa, Asia, and the Middle East. The company utilizes a fleet of more than 40 vessels that embark on more than 1,190 voyages per year.
The company now offers its international such clientele services as gasoline storage and blending, fuel oil storage and blending, shipping, and financial services in the form of hedging. Expanding at a steady rate of 22 per cent per year — the company continues to grow.
“I want to thank every member of the Aramco Trading family for their contribution to the company’s success over the past five years,” Ibrahim Al-Buainain, Saudi Aramco Products Trading Co. CEO, said in his message on the website.
The company is composed of a diverse workforce, with more than 15 nationalities represented and women comprising 17 per cent of its employees.
“Aramco Trading’s most important asset is its people. Without this group, we would not be where we are today,” said Al-Buainain.