Saudi Aramco Combines Trading Units Before Potential Listing (1)

Saudi Aramco has combined its main trading unit with that of US refiner Motiva Enterprises LLC, as the oil giant consolidates its dealing operations before potentially listing them.

Aramco has set up a new entity, Houston-based Aramco Trading Americas LLC, which will be the regional office for the Saudi company’s broader trading arm, it said in a statement. ATA will be the sole supplier and off-taker for Motiva, which owns the biggest refinery in the US, the 630,000 barrel-a-day Port Arthur plant in Texas.

Aramco, the world’s largest oil company, is already the parent of Motiva. It’s pushing ...