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Aramco acquires Motiva Trading Company
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ramco Trading Company (ATC) has announced a 100% acquisition of the American based energy company Motiva Trading and the launch of Aramco Trading Americas LLC (ATA), a whollyowned subsidiary of ATC based in Houston, Texas.
Aramco Trading Americas (ATA) will be Aramco’s Trading Company’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 the largest refinery in North America with a crude refining capacity of 630,000 barrels a day, producing consumer and commercial-grade fuels and base oils.
Aramco Trading Americas offices.
SOURCE | SAUDI ARAMCO
Mohammed K. Al-Mulhim, President & CEO of Aramco’s Trading Company said: “The acquisition of Motiva Trading and the establishment of Aramco Trading Americas are giant steps 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.”
Founded in 1998 and headquartered in Houston, Texas, Motiva refines, distributes and markets petroleum products throughout the United States. Under exclusive, long-term brand licenses with Shell and Phillips 66 (for the 76® brand), Motiva’s marketing operations support more than 5,000 retail gasoline stations.
Established in 1933 as the California Arabian Standard Oil Company (CASOC) which was a subsidiary of Saudi Arabia and the Standard Oil Company of California (SOCAL), Saudi Aramco has evolved over the years to become one of the largest integrated energy and chemical companies in the world. Aramco Trading Company is the trading arm of Saudi Aramco, with a trading portfolio focusing on petroleum products, crude oil, LPG, LNG and aromatics.