Arab Press

بالشعب و للشعب
Friday, Jun 20, 2025

Saudi Aramco Is Fighting To Regain A Key European Market

Saudi Aramco Is Fighting To Regain A Key European Market

Saudi Aramco is clearly making moves to regain a foothold in the North West European crude market as its trading company just landed a major supply deal in the region
In a move to regain some of its former glory in the North West European crude oil and products market, Saudi Aramco Trading Company (ATC) has clinched a major 110,000 bpd supply deal with international independent private equity group Klesch Group. According to statements made by ATC, the deal entails the supply of 110,000 bpd of crude to the Danish Kalundborg Refinery, following the signing of an agreement with Klesch Group. The deal entails not only Arabian crude placement but also third-party crude and condensate, with a provision of refined products offtake. The move should be seen as a new adventure for ATC, and its mother company Saudi Aramco, as it attempts to re-enter or strengthen its former position in the North West European market.

The Saudi giant has been looking at new opportunities in this very attractive market where its once-great influence has been waning of late. From April 2020, when it posted record supply volumes of 312,000 bpd to the market, its total levels dropped to 32,000 bpd by August 2020. To regain its market share, especially in the still strong refining market of Amsterdam -Rotterdam – Antwerp (ARA), the company is searching for new inroads and entry points. Ibrahim Al Buainain, president and CEO of ATC, stated that the new crude deal will enable ATC to have additional transactions in Europe and other parts of the energy map. Klesch Group, with offices in London and Geneva, is known as a major investor in refineries in Europe and is known to have acquired Equinor Refining Denmark in December 2021, including not only the Kalundborg refinery but also a terminal in the northwest of Zealand, the Hedehusene terminal near Copenhagen and other assets.

ATC is currently very active in the market, in line with its main regional competitor ADNOC Global Trading from Abu Dhabi. In December 2021 ATC signed an MOU with Australian retailer United Petroleum for potential long-term fuel supply, product storage, and other business opportunities. Australia has the potential to be another major market for ATC as it is the largest fuel importer in the Asia Pacific. Australia’s domestic refinery capacity has decreased substantially in recent years. In the MOU ATC indicated that it will explore refined fuels sales to UP to meet Australia’s growing demand. At the same time, possible investments are planned in product storage and logistics. ATC at present is looking to grow substantially, not only in volumes but also inhouse traders and personnel. New offices are also planned in key trading regions.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Saudi Arabia Faces Uncertainty Over Succession After Mohammed bin Salman
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Majority of French Voters View Macron's Presidency as a Failure
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Businessman Mauled by Lion at Luxury Namibian Lodge
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
×