Saudi Aramco subsidiary Aramco Trading Co., on Tuesday (4 June) has reportedly opened its second international office in Fujairah, UAE after Singapore.
The new facility, Aramco Trading Fujairah (ATF), will handle all Aramco Trading gasoline and fuel oil storage and blending activities.
The event was attended by the firm’s chairman and head of Saudi Aramco Downstream Abdulaziz M. Al-Judaimi, and CEO Ibrahim Al-Buainain.
The opening ceremony was also attended by local dignitaries, including Sharief Habib Al Awadhi, director general of the Fujairah Free Zone, Capt. Mousa Morad, managing director of the Port of Fujairah, and Capt. Salem Abdullah Al Hamoudi, director of the Fujairah Oil Industry Zone (FOIZ).
“We have been in Fujairah for a number of years and as our trading business expands globally — between Singapore, Saudi Arabia, London, Houston — we trade across different time zones, and Fujairah as the centre of our blending operations, we thought it is important to be here, physically doing trading as a business in Fujairah,” said Al-Judaimi.
“We are very happy with the relationships here, be it with our clients, our suppliers and the government — they have been very open and have welcomed us to be here for many years.”
“Aramco Trading has experienced significant growth in recent years. We started in 2012 with 600,000 to 700,000 b/d and now we’re operating at more than 4 million b/d — and as the downstream business grows to the level that we want to reach 8-10 million b/d — Aramco Trading will grow together with that business,” added Al-Buainain.
“At Fujairah, we have a growing business that started with 100,000 b/d and now we have 350,000 b/d between gasoline and fuel oil. So, for this reason, Fujairah would be the optimum location that is close to our assets close to the free zone.”
Photo credit: Port of Fujairah
Published: 7 June, 2019
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