Riyadh – Mubasher: Aramco Trading Company (ATC), the trading subsidiary of state-run Saudi Aramco, has sold its first cargo of US West Texas Light (WTL) crude to South Korea’s Hyundai, Reuters reported.
The move comes along with ATC’s plan to expand its US oil dealings to increase trade volumes.
It also comes in line with Saudi Aramco’s strategy regarding expanding its refining and petrochemical operations to boost global sales.
The shipment is expected to arrive at Hyundai Oilbank’s refinery in Daesan by October.
This is considered Hyundai Oilbank’s first WTL crude purchase.
It is worth noting that the shipment follows an agreement this year for Saudi Aramco to take a 17% stake in Hyundai Oilbank, South Korea’s smallest refiner by capacity.
