ATC &United Petroleum

Dhahran, Saudi Arabia, December 22, 2021 – Aramco Trading Company (ATC) today signed a non-binding Memorandum of Understanding (MoU) with United Petroleum Pty Ltd (United Petroleum), an Australian petrol retailer and importer. The MoU covers potential long-term fuel supply, product storage and other business opportunities.

Under the MoU, ATC intends to explore the sale and supply of refined fuels to United Petroleum to meet fast-growing demand in its network of facilities in Australia and elsewhere.

At the same time, ATC and United Petroleum will explore product storage and logistics collaboration, with a view to generating long-term value for both businesses. They will also assess additional areas of potential cooperation, both in the energy sector and other growth areas.

ATC President and CEO Ibrahim Al Buainain said: “We are delighted to sign this MoU to further strengthen our relationship with Australian businesses. Through this MoU, we hope to advance the vast opportunity for growth in United Petroleum’s distribution networks across Australia and elsewhere.”

In a joint statement, United Petroleum owners Avi Silver and Eddie Hirsch said: “With our growth expectations both domestically and internationally, we are very pleased to be signing this MoU with ATC. Given ATC’s strength and oversight of the petroleum industry, we will have the ability to leverage their knowledge and collectively expand and enhance what we do. This is a very exciting opportunity for United Petroleum and ATC.”