Saudi Aramco will not supply oil to two customers in Europe — Jerusalem Post
In Saudi Arabia, Saudi Aramco has told at least two European refining customers that they will not receive shipments of Saudi oil next month. The Jerusalem Post reports, citing Bloomberg. This came after a drone attack on the kingdom’s key East-West oil pipeline.
Supplies under long-term contracts
European buyers usually receive Saudi oil monthly under long-term supply agreements. According to Bloomberg sources familiar with the situation, these volumes will not be allocated next month. Saudi Aramco did not immediately comment in response to a request.
Last week, Saudi Arabia halted operations on the East-West pipeline following a drone attack on the facility. According to a source familiar with the situation, partial pipeline operations are expected to resume within a few days, while full capacity is expected to be restored within six weeks.
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Search for alternative supplies
Earlier, sources in the oil industry and security sector reported damage to two pumping stations. At the same time, Reuters’ analysis of satellite images found damage at three stations, which was confirmed by the agency’s sources.
European refineries that buy Saudi oil usually receive it through the Egyptian Mediterranean port of Sidi Kerir, which is connected to the Red Sea by pipeline infrastructure. The disruptions have already forced some Aramco customers to seek alternative sources: Poland’s Orlen SA has issued more than ten tenders since Friday to purchase replacement oil shipments.
According to the International Energy Agency’s monthly report, OECD countries in Europe imported 577,000 barrels of Saudi oil per day in June. The East-West pipeline is an important alternative for Saudi Arabia to the Strait of Hormuz and reduces the kingdom’s dependence on this maritime route.
