Jan 11, 2022

Aramco Trading inks deal with Klesch Group for feedstock supply Aramco Trading inks deal with Klesch Group for feedstock supply Saudi Arabia Aramco Trading inks deal with Klesch Group for feedstock supply Saudi Aramco's trading arm has signed an agreement with Klesch Group, an international industrial commodities group, for the exclusive supply of feedstocks for its refinery in Denmark. Under the deal, Aramco Trading Co. (ATC), that trades gas, crude, refined products, will exclusively supply 110 million barrels per day (MBD) of crude, the company said in a statement on Tuesday. This deal also gives Aramco a strategic footprint in the refining business in north-west Europe, a fast-growing and under-served market, according to the statement. “This will also pave the way for creating a framework that will allow similar transactions in Europe and other parts of the energy map,” said Ibrahim Al Buainain, President and CEO of Aramco Trading. ATC, which was set up in 2012 initially to market refined products, base oils and bulk petrochemicals, has since expanded into crude trading. To reach out to a wider customer base, it strategically maintains storage and blending facilities in major trading hubs. Klesch Group, which is involved in the production and trading of oil and metals, as well as financial derivatives, completed the acquisition of Equinor Refining in Denmark on December 31, 2021, consisting of the Kalundborg refinery, including a terminal in the