The price of crude is languishing under $50 a barrel, far below the level many Gulf producers need to balance their budget
SINGAPORE: The trading arm of oil giant Saudi Aramco is looking to step up hiring for its Singapore office as it pushes into the regional energy hub, three sources with knowledge of the matter said.
The office aims to employ 10 to 15 staff by the year-end after opening with one person in late 2015, said one of the sources.
That would include operational, analytical and administrative workers.
A spokesman for Saudi Aramco Products Trading Company did not answer calls from Reuters.
"The main aim is for employees to support trading activities of the head office in Saudi Arabia," said the first source. All three declined to be identified as they were not authorised to speak with the media.
The office may also expand into trading beyond refined oil products and chemicals, the source continued.
According to the company website, it is looking to hire a marketing coordinator, as well as an analyst to provide energy market research on crude oil, oil products and chemicals, preferably with experience working with an Indian state-owned oil company.
Saudi Aramco Products Trading Company is now trading about 1.5 million barrels of refined, liquid chemical and polymer products every day across the globe.
Saudi Aramco has a separate unit in Singapore, Aramco Asia Singapore, focused on marketing the company's own liquefied petroleum gas (LPG) and crude oil. - Reuters
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