Saudi Aramco is revising its downstream business model to support integration across the hydrocarbon value chain and help drive financial performance and global growth.
The downstream operating model will include four commercial business units: fuels; chemicals; power; and pipelines, distribution and terminals.
Saudi Aramco said the reorganization is designed to enhance the effectiveness and efficiency of the company’s existing downstream assets, but does not represent a fundamental change in the overall business structure.
Abdulaziz Al Gudaimi, senior vice president of Aramco downstream, said: “This reorganization is yet another step in Aramco’s strategy to develop a global integrated downstream business that enhances our competitiveness by maximizing our value capture across the hydrocarbon value chain.”
The reorganization is expected to be in place by the end of the year.
Aramco’s downstream business leverages the company’s competiti
