#Saudi Aramco strives to be ‘top three’ oil trader | Financial Times

Saudi Aramco strives to be ‘top three’ oil trader | Financial Times:

Saudi Aramco has vowed to transform itself into a “top three” oil trader, setting its sights on challenging established players such as BP, Royal Dutch Shell and Vitol.

Amin Nasser, chief executive of the Saudi state giant, said that it planned to be among the biggest traders by 2022 as part of a broader strategy to build a more robust energy company that can withstand market downturns.

“Over the next three years, we should be one of the top three traders. We are increasing year on year,” said Mr Nasser in an interview at Saudi Aramco’s London office, which houses part of its European trading business.