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New US Subsidiary Gives Saudi Aramco Access To North America’s Biggest Refinery

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New US Subsidiary Gives Saudi Aramco Access To North America's Biggest Refinery

(CTN News) – The global trading arm of Saudi Aramco has announced the acquisition of Motiva Trading as part of its plans to expand its footprint across North and South America.

Aramco Trading Co. has acquired 100 per cent of the firm in addition to launching a subsidiary based in Texas – Aramco Trading Americas – as part of the acquisition.

Upon its formation, the new entity will become the exclusive supplier and off taker of Motiva Enterprises.

Motiva owns the largest oil refinery in North America, with a crude capacity of 630,000 barrels a day of basic fuels and base oils of all grades. These are used for consumer and industrial use.

As a result of the acquisition of Motiva Trading and the establishment of Aramco Trading Americas, our ambitious global growth strategy has been accelerated, with the objective of expanding our geographical reach and scale of operations, as well as strengthening the flexibility and optionality of our products,” said Mohammed K. Al-Mulhim, President and CEO of ATC.

Moreover, by allowing customers access to a reliable hydrocarbon system, it is predicted that this will bring about a strengthening of the global value chain in the future.

This is based on the statement that was released earlier.

It is the latest deal between Saudi Aramco and a US firm.

In September 2022, Aramco signed a deal worth $250 million with Beyond Limits, a company specializing in artificial intelligence technology located in California. This deal will build a global AI corridor between both companies.

In order to establish an ecosystem in the Kingdom through the corridor, complex AI solutions would be commercialized, Saudi Aramco talent would be trained, and Saudi Aramco startups would be supported.

Relations between Saudi Aramco and the United States are deep. The energy company employs thousands of employees in its research and technology centers in Houston, Detroit, Boston, and at its corporate headquarters in New York as well.

 On the coast of the Gulf of Mexico, it owns and operates the Motiva refinery and petrochemical plant. This is the largest plant of its kind in North America, located on the coast of the Gulf of Mexico.

According to Bloomberg’s report, Amin Nasser, the CEO of Saudi Aramco, stated after the announcement that he is seeing an increased demand for fuel from China and is in talks with Chinese companies about investing in petrochemicals.

The demand for jet fuel has risen to 1 million barrels per day in the past few months, which is lower than the levels that existed prior to the Pandemic, although it is improving.

What is the salary of Saudi Aramco?

The average Saudi Aramco salary ranges from approximately $45,000 per year for Inventory Specialist to $231,669 per year for Senior Electrical Engineer. Average Saudi Aramco hourly pay ranges from approximately $19.90 per hour for Supply Chain Specialist to $159 per hour for SAP Project Manager.

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