Saudi Arabia is offering more crude oil to Asian refiners through ship-to-ship transfers off Oman’s Sohar port after drone attacks damaged a key pipeline carrying oil to the Red Sea, sources familiar with the matter said.
State oil company Saudi Aramco has offered its flagship Arab Light grade, along with Arab Medium and Arab Heavy, to long-term Asian buyers for loading off Sohar, which lies outside the Strait of Hormuz.
The offers indicate that Aramco is moving more crude out of the Gulf for onward transfer beyond the strategic waterway. The company has made at least two similar offers of Arab Medium and Arab Heavy to Asian buyers in recent weeks.
Saudi Aramco declined to comment.
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Saudi Arabia has doubled daily crude loadings at its Ras Tanura and Juaymah terminals inside the Gulf over the past week to around two very large crude carriers, equivalent to four million barrels, according to satellite tracking by consultancy Energy Aspects.
Separate ship-tracking data from Kpler showed four such tankers, capable of carrying a combined eight million barrels, loading at Ras Tanura on Wednesday.
