S-Oil wins $2.66 bln order from Aramco trading arm in Singapore

By Lim Chang-won Posted : January 30, 2020, 09:04 Updated : January 30, 2020, 09:04

[Courtesy of S Oil]

SEOUL -- S-Oil, a petroleum and refinery company based in Seoul, has secured an order worth 3.14 trillion won ($2.66 billion) to supply oil products to Saudi Aramco's trading arm in Singapore.

S-Oil said in a regulatory filing that it signed a contract with Aramco Trading Singapore PTE LTD. on January 28 to provide diesel, naphtha, aviation oil, gasoline and MTBE (methyl tert-butyl ether), a blending component of gasoline, which is used as a fuel oxygenate. The contract is due on December 31.

Saudi Aramco, the world’s largest oil exporter, purchased a 35 percent stake in S-Oil in 1991 and increased its stake to 65 percent in 2014.
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