Aramco offers more oil outside Hormuz with some cargoes heading to China
SINGAPORE: Saudi Aramco has offered more oil for loading outside the Strait of Hormuz in September, four sources with knowledge of the matter said on Wednesday, after the producer sold at least 4 million barrels to China this month. Shipping data indicates that Aramco has resorted to shuttling cargoes aboard tankers with their trackers switched off to evade attacks during transit through the…
Saudi Aramco has offered additional oil for loading outside the Strait of Hormuz in September, according to four sources with knowledge of the situation, following the company's recent sale of at least 4 million barrels to China. Shipping data suggests that Aramco has been transporting cargoes on tankers with their trackers disabled to circumvent potential attacks while traversing the strait, which previously facilitated one-fifth of global oil and gas trade before the U.S.-Iran conflict commenced on February 28.
Aramco has initiated a sales process for Arab Medium and Arab Heavy crude to Asian buyers for the second straight week, with shipments arranged via ship-to-ship transfers off Fujairah in the United Arab Emirates or Sohar in Oman, both locations situated outside the strait. Bids are set to be submitted by Wednesday, one of the sources revealed.
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Also reported by 1 other outlet
- Aramco offers more oil outside Hormuz with some cargoes heading to China qatar-tribune.com
