The world’s largest oil company, Saudi Aramco, is set to reorganize its downstream business and enhance integration across the hydrocarbon value chain in order to enhance financial performance and value creation, according to a press release. 

Abdulaziz M. Al Gudaimi, Senior Vice President of Aramco Downstream, said, “I am excited that we are launching a new operating model that we believe will help streamline our operations and reinforce our position as a major global energy and petrochemicals player. This reorganization is yet another step in Aramco’s strategy to develop a global integrated downstream business that enhances our competitiveness by maximizing our value capture across the hydrocarbon value chain.”

The company’s new-look downstream operating model will include four commercial business units: fuels (includes refining, trading, retail and lubes), chemicals (including power and pipelines), distribution and terminals. These units will be supported by manufacturing, affiliates affairs, and strategy & marketing.

This reorganization is an attempt to enhance Aramco’s business efficiency in existing downstream assets but does not fundamentally change the company’s overall business structure. The company’s underlying downstream strategy focuses on creating growth opportunities across the hydrocarbon chain.