Saudi Aramco Resumes Shipments, 3 Tankers Load 6 Million Barrels of Crude Oil

en.Wedoany.com Reported - From August 12 to 16, Saudi Aramco resumed loading crude oil from the two Persian Gulf oil terminals of Juaymah and Ras Tanura. Vessel tracking data recorded three Very Large Crude Carriers (VLCCs) completing loading, each carrying approximately 2 million barrels, totaling about 6 million barrels. These terminals are located on the Persian Gulf coast west of the Strait of Hormuz; the relevant statement refers to "resuming loading from ports inside the strait," not directly loading crude oil in the waters of the Strait of Hormuz itself.

Saudi Aramco is simultaneously selling Arab Medium crude and Arab Heavy crude to Asian refiners, with some cargoes planned to be shipped to waters near Fujairah in the UAE for ship-to-ship transfer. Fujairah lies outside the Strait of Hormuz, allowing receiving tankers to avoid entering the Persian Gulf. Several VLCCs operated by the Saudi National Shipping Company Bahri are also waiting to enter port, with subsequent loading schedules planned for late August.

After shipping through the Strait of Hormuz was disrupted in March, Saudi Arabia suspended or reduced loading at the Ras Tanura and Juaymah terminals and diverted some crude via the East-West Pipeline to the Red Sea port of Yanbu for export. In late June, the Ras Tanura terminal resumed loading after nearly four months of suspension, with at least five VLCCs subsequently shipping out approximately 10 million barrels of crude. The August loading indicates that Saudi Aramco is still using Persian Gulf ports, but regional shipping has not yet returned to pre-conflict levels.

On August 18, the number of commercial cargo vessels transiting the Strait of Hormuz in a single day remained in single digits, with no fully loaded VLCCs or LNG carriers recorded passing through normally, and some vessels may have turned off their Automatic Identification Systems. Saudi Aramco is therefore reducing the need for receiving vessels to enter waters inside the strait through offshore transfers at Fujairah while resuming loading at its ports.

Exports via the Red Sea route remain constrained as well. After outbound shipments from Yanbu port were affected by the security situation in the Bab el-Mandeb Strait, Saudi Aramco began shipping some crude through the Suez-Mediterranean Pipeline to Egypt's Sidi Kerir port for loading. In August, this port is expected to load approximately 670,000 barrels per day, significantly lower than the export volume of approximately 4 million barrels per day before Yanbu was disrupted; higher transportation costs and longer voyage distances have also curbed purchasing appetite among Asian buyers.