LONDON, Jan 28 (Reuters) -
* Saudi Aramco Energy Ventures has bought into
blockchain-based
trading platform Vakt with $5 million in new shares, Vakt said
on Tuesday.
* Aramco Trading Co, a subsidiary of Saudi Aramco, will use
the
platform.
* The VAKT platform specialises in post-trade processing. It
has
been live since the end of 2018 with a focus on the key North
Sea crude oil grades used to set benchmark dated Brent.
* The founders included majors BP, Equinor
and
Shell, independent traders Gunvor, Koch Supply &
Trading and Mercuria as well as banks ABN Amro, ING
and Societe Generale.
* Chevron, Reliance Industries and Total
have also joined.
* Vakt has not disclosed the volume of trade that uses its
platform.
(Reporting by Julia Payne
Editing by David Goodman
)
BP (BP.)
