Riyadh – Mubasher: The Saudi Arabian Oil Co, known internationally as Saudi Aramco plans to expand its activities through buying and selling the non-Saudi oil, Bloomberg reported citing Aramco’s CEO of products trading Ibrahim Al-Buainain as saying.

The largest oil firm will merge the putting crude marketing and the refined-product trading under the same management to provide more efficient refineries and to achieve more profits, Al-Buainain added.

Aramco will inaugurate a new office in Singapore in the coming week, and it will expand its office in London to provide more efficient services for the North-European market.

“We’ll keep selling our own oil as normal, and we want to get into trading third-party crude,” Al-Buainain stated in an interview in the UAE.

“Getting into crude trading is a big departure for Aramco, but it’s something that the oil majors are already doing and making money on,” Edward Bell, commodities analyst at Dubai-based lender Emirates NBD PJSC indicated.