Khobar-Saudi oil giant Aramco has appointed Ibrahim al-Buainain as chief executive officer of its trading unit, replacing Yasser Mufti, who was named executive director of new business development in June.

Buainain held the position of head of transaction development at Saudi Aramco for less than a year, and prior to that, he was president of Aramco Asia, which extends from China to India.

Before taking over his new post in Asia, al-Buainain was heading Saudi Aramco Energy Ventures (SAEV), which was established by him in 2011 until it was launched in 2012.

Asharq Al-Awsat newspaper was informed by its sources that Buainain started his new role earlier this month.

Prior to appointing Buainain, Saudi Aramco made new appointments to its executive ranks at its board meeting in Japan while reappointing president and chief executive Amin Nasser.

It appointed Nabeel al-Mansour as the general counsel and corporate secretary and Said al-Hadrami as vice president of international operations.

In a common matter, the National Shipping Company of Saudi Arabia or NSCSA (Bahri) and Vela, a subsidiary of the world’s largest producer and exporter of oil, Saudi Arabian Oil Company (Aramco), formed an alliance under the contribution of Buainain and other major leaders; thus, forming the world’s second largest company for carrying crude oil.