“The year 2018 took the company one step forward toward achieving its goal of being one of the top three trading houses worldwide.”
I would like to take this opportunity to thank all Aramco Trading employees for their efforts, dedication, and hard work over the past year. The year 2018 took the company one step forward toward achieving its goal of being one of the top three trading houses worldwide. Aramco Trading Company (ATC) has assumed the role of integrating all Saudi Aramco’s global.
Downstream assets and has achieved significantly better financial results and revenues than were planned. Trading volumes reached 4 million barrels per day, up from 1.6 million barrels per day last year, as a result of integrating the Kingdom’s refined products seaborne activity, and increasing third-party trading to expand ATC’s geographical presence worldwide.
ATC expanded its presence in key markets in Asia, East and South Africa, the United States and Latin America, Arabian Gulf, Indian Subcontinent, and the Mediterranean. The company also entered new markets in West Africa and Australia as part of our growth strategy. To support our market growth prospects and global integration objectives, ATC established its first subsidiary Aramco Trading Singapore (ATS), which commenced its trading activities on July 1, 2018. The office witnessed tremendous growth, transitioning from a marketing service provider to a fully-fledged trading office. The sustainable growth over recent years has enabled the company to grow exponentially. As with every great achievement, change is necessary, and we have witnessed a successful and seamless transformation of the Chemicals business into a wholly owned subsidiary of Saudi Aramco. Aramco Chemicals Company (ACC), the newly established Saudi Aramco subsidiary, will manage the Chemicals business as of January 2019. I wish them all the best in this new journey, and thank them for their contributions to our success. The collective efforts of our employees this year has been clearly evident in our development. I would like to extend my gratitude to you and the whole ATC family for the tremendous efforts and achievements.