• Suadi Aramco has invested in North Sea oil post-trade settlement firm Vakt
    North Sea oil platform off Norway. (Photo: iStock)
    Technology

    Vakt wins backing of oil giant Saudi Aramco

    The world’s largest oil producer invested $5 million and plans to use Vakt’s blockchain-based post-trade settlement platform down the road

    January 28, 2020 /

    Saudi Aramaco subsidiary Aramco Trading Company joins firms like BP and Shell in using Vakt’s settlement platform for North Sea crude oil. Vakt plans to expand its platform to other oil markets.

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