financetom
Business
financetom
/
Business
/
FTAI Infrastructure inks deal with Aramco Trading to boost oil supply to Texas terminal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
FTAI Infrastructure inks deal with Aramco Trading to boost oil supply to Texas terminal
Jun 13, 2024 2:49 PM

June 13 (Reuters) - Ground freight and logistics firm

FTAI Infrastructure ( FIP ) said on Thursday that one of its

subsidiaries has executed a multi-year terminal services

agreement with the energy trading unit of Saudi Aramco

, which includes the future receipt of new crude oil

volumes at its Main Terminal in Texas.

FTAI said the subsidiary, Jefferson Energy, would receive

additional supply of crude oil at its terminal in Beaumont by

incorporating bi-directional flow capability into its Southern

Star Pipeline, which currently moves crude oil from the Main

Terminal to the Motiva Port Neches Terminal.

The bi-directional pipeline would open up the Main Terminal

to crude volumes from TC Energy Marketlink Pipeline System, a

750,000 barrels per day crude oil pipeline from Cushing,

Oklahoma, to the U.S. Gulf Coast, the company said.

Last year, after acquiring Motiva Trading, Aramco launched

the U.S. unit Aramco Trading Americas.

The world's largest oil firm has been expanding its trading

activity. In February, it started trading a U.S. crude oil grade

that helps set Brent oil benchmark.

The shale revolution of the past 15 years has made the U.S.

the world's top oil producer and also transformed the country

from a top importer to a major exporter after Washington ended a

40-year ban on foreign shipments.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Reddit Stock Dips Ahead Of Q3 Earnings: What's Going On?
Reddit Stock Dips Ahead Of Q3 Earnings: What's Going On?
Oct 30, 2025
Reddit Inc ( RDDT ) shares are trading lower Thursday morning as investors await its third-quarter financial results, scheduled for release after the market close. Here’s what investors need to know. RDDT stock is struggling to find support. Get the details here. What To Know: Wall Street has set a high bar for the social media platform, with consensus estimates...
Merck posts higher third-quarter sales as Keytruda  offsets drop in HPV vaccine
Merck posts higher third-quarter sales as Keytruda offsets drop in HPV vaccine
Oct 30, 2025
Oct 30 (Reuters) - Merck & Co ( MRK ) posted higher third-quarter revenue on Thursday, as growth from its blockbuster cancer drug Keytruda offset falling sales from human papillomavirus vaccine Gardasil in China. However, shares fell nearly 2% after Merck ( MRK ) lowered the high end of its revenue forecast for the full year. It now expects revenue...
Gannett Shares Slightly Down After Q3 Loss Widens, Revenue Falls; Announces AI Licensing Deal With Microsoft
Gannett Shares Slightly Down After Q3 Loss Widens, Revenue Falls; Announces AI Licensing Deal With Microsoft
Oct 30, 2025
11:10 AM EDT, 10/30/2025 (MT Newswires) -- Gannett ( GCI ) shares were slightly lower in recent Thursday trading after it reported a wider loss and lower revenue in Q3, while announcing an artificial intelligence licensing agreement with Microsoft ( MSFT ) . The newspaper publisher earlier posted a Q3 net loss of $0.27 per diluted share, widening from a...
AppLovin's Growth Trends to Benefit This Year on Gaming Momentum, Wedbush Says
AppLovin's Growth Trends to Benefit This Year on Gaming Momentum, Wedbush Says
Oct 30, 2025
11:10 AM EDT, 10/30/2025 (MT Newswires) -- AppLovin's ( APP ) phenomenal growth trends to benefit this year on gaming momentum driven by more players, higher spending on user acquisition, and ecommerce layering, Wedbush said in a Thursday research report ahead of the company's Q3 earnings report due Nov. 5. The user acquisition strategy is likely to continue growing, with...
Copyright 2023-2026 - www.financetom.com All Rights Reserved