Business Companies 18 Sep 2019 Aramco arm looks for ...

Aramco arm looks for oil products after attacks: Sources

REUTERS
Published Sep 18, 2019, 12:42 am IST
Updated Sep 18, 2019, 12:42 am IST
Aramco Trading Company (ATC), the trading arm of Saudi Aramco, is making enquiries to buy diesel for prompt delivery, two of the trade sources said.
 Saudi Arabia is typically a net exporter of diesel.
  Saudi Arabia is typically a net exporter of diesel.

Singapore/London: Saudi Aramco's trading arm is looking for oil products for prompt delivery after Saturday's attacks on Saudi oil facilities, several trade sources said this week.

Saudi Arabia is set to become a significant buyer of refined products after the attacks forced it to shut down more than half of its crude oil output and some of its gas, consultancy, Energy Aspects said on Sunday.

 

The attacks may have curtailed as much as 1 million barrels per day (bpd) of Aramco's refining capacity, Energy Aspects said, although this could not be confirmed and it was not clear to which Saudi Aramco refineries it was referring.

Aramco Trading Company (ATC), the trading arm of Saudi Aramco, is making enquiries to buy diesel for prompt delivery, two of the trade sources said. Saudi Arabia is typically a net exporter of diesel.

"They are looking (for oil products) since they are trimming runs at some of the refineries," one source said, declining to be named as he was not authorised to speak to media.

— Reuters

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