Saudi Aramco announced on July 14 a reorganization of its downstream business that is intended to boost integration as part of its vision to become the world’s “preeminent integrated energy and chemicals company.” Aramco says the reorganization is expected to be completed by the end of the year.
The reorganization will group the company’s downstream operations into four business units: Fuels – including refining, trading, retail and lubricants; Chemicals; Power; and Pipelines, Distribution & Terminals. Aramco says the business units will be supported by three corporate functions: Manufacturing, Strategy & Marketing and Affiliates Affairs. (CONTINUED - 606 WORDS)
