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Nov 21, 2023

Saudi Aramco Hires Socar’s House to Lead Americas Crude Trading

Lucia Kassai, Bloomberg News

Signage above the Saudi Aramco booth on day two of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates, on Tuesday, Oct. 3, 2023. The annual strategic energy conference runs from Oct 2-5. Photographer: Christopher Pike/Bloomberg

Signage above the Saudi Aramco booth on day two of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates, on Tuesday, Oct. 3, 2023. The annual strategic energy conference runs from Oct 2-5. Photographer: Christopher Pike/Bloomberg , Bloomberg

(Bloomberg) -- Saudi Aramco hired Dan House from Socar Trading to lead its crude trading business in the Americas as the world’s largest oil company builds up the US unit that it started earlier this year.

House left Socar in Houston last week, where he was the manager of North America trading, and he’s expected to start at Aramco Trading Americas in about a month, according to people familiar with the matter who spoke on condition of anonymity. Socar, Aramco and House didn’t immediately respond to messages seeking comment.

Saudi Aramco has been expanding its trading business as geopolitical tensions ratchet up volatility in energy markets. Aramco Trading Americas, based in Houston, was set up in January mainly to handle buying and selling for the company’s oil-refining business.

Prior to Socar, House worked for nine years at energy trader Mercuria Energy Group, according to his LinkedIn page. He also had a roughly four-year stint at Musket Corp., a trading company owned the billionaire Love family, which also runs the American truck-stop chain Love’s Travel Stops & Country Stores.

©2023 Bloomberg L.P.

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