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Last Updated: January 25, 2018
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DUBAI (Bloomberg) -- Saudi Aramco’s trading unit started swapping the kingdom’s crude oil for products refined in other countries, allowing the company to tap new markets, according to its CEO.


The company has supplied crude to refiners in the Mediterranean region and gotten fuel in return, Ibrahim Al-Buainain, CEO of Saudi Aramco Products Trading Co., said Wednesday by phone. The refined products have been sold in Europe, North Africa and the west coast of Saudi Arabia, and the aim is to do more of the processing deals, Al-Buainain said.

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