Saudi Arabia Ramps Up Gulf Oil Exports After Pipeline Attack, Data Shows
Saudi Aramco loaded about 14 million barrels of crude oil on seven supertankers inside the Mideast Gulf on Sunday, data from TankerTrackers.com showed, as the kingdom increased loadings from Gulf export terminals after an attack disrupted shipments via its east-west pipeline to the Red Sea. The loading of seven tankers would suggest an increase in Saudi supplies.
The seven vessels are Very Large Crude Carriers (VLCCs), according to TankerTrackers.com. Satellite images seen by Reuters appear to show seven tankers near Saudi Arabia‘s Ras Tanura port on Sunday. An Aramco spokesperson declined to comment.
Shift from Red Sea Loadings
Drone attacks forced Saudi Arabia to shut its East-West Pipeline on September 13, halting crude loadings at the kingdom’s Yanbu oil port on the Red Sea. As a result, Aramco cancelled some crude cargo sales to European clients, while boosting sales to Asia for crude it loads at its eastern ports inside the Strait of Hormuz.
Saudi Arabia‘s crude loadings have shifted from the Red Sea to the Middle East Gulf in the past week. Its Gulf crude loadings have averaged about 3.7 million barrels per day (bpd) since September 12, up from 2.9 million bpd earlier in the month, according to Vortexa, another company that tracks oil flows.
Saudi Red Sea Loadings
Saudi Arabia sold about 60 million barrels of crude from its Ras Tanura port inside the Strait of Hormuz for loading via ship-to-ship transfer at the Omani port of Sohar this month and next, trade sources told Reuters last week.
Original Article: Saudi Arabia ramps up Gulf oil exports after pipeline attack, data shows | Reuters — Reuters