Analysts upbeat on outlook for Saudi Aramco’s new trading unit

Oil barrels

In a shift of direction for the state oil giant, Saudi Aramco launched its new trading unit this month, introducing what analysts believe could become a major player in the refined-products markets.

The wholly owned subsidiary, Aramco Trading, commenced operations in Dhahran on January 1 with a team of 80 employees, the Saudi state oil giant said in a statement. Leveraging Saudi Aramco's growing portfolio of downstream assets, the new unit will buy and sell condensates, naphtha, gasoline, middle