Aramco may merge two energy trading units

The restructuring is likely to be announced before the end of the year,

LONDON: Saudi Aramco (pic) is planning to merge two energy trading units, people familiar with the matter say, with Aramco Trading Co (ATC) due to absorb Motiva Trading ahead of a potential initial public offering (IPO) of the business.

The move to combine the businesses is expected to give potential investors a better sense of the scale of Aramco’s trading and would also allow the state oil producer to simplify financial reporting and cut duplication.