Saudi Arabia’s state-controlled oil company Saudi Aramco will reorganize its downstream business to strengthen the integration across the hydrocarbon value chain, along with positioning the company better in financial performance, value creation, and global growth.
The downstream operating model includes four commercial business units that are fuels, chemicals, power and pipelines, distribution & terminals. Three corporate functions that are manufacturing, strategy & marketing, and affiliates affairs will support the business units.
The reorganization does not mean a fundamental change in the overall business structure would occur. It will be in place by the end of 2020.
