Reuters reports Saudi Aramco sold 4 million barrels outside Hormuz to China
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Saudi Aramco sold at least 4 million barrels of crude loading outside the Strait of Hormuz to two Chinese refiners, trade sources told Reuters on Thursday. PetroChina and Sinochem each bought 2 million barrels of Arab Medium and Arab Heavy at premiums. Aramco resumed loading from inside Hormuz last week and has more tankers waiting to load.
Key Facts
- Saudi Aramco sold at least 4 million barrels of crude loading outside the Strait of Hormuz to two Chinese refiners.
- PetroChina and Sinochem each bought 2 million barrels of Arab Medium and Arab Heavy at premiums.
- Aramco offered Arab Medium and Arab Heavy cargoes on Monday for loading via ship-to-ship transfers off Fujairah in the United Arab Emirates.
- Saudi Aramco resumed oil loading from inside the Strait of Hormuz last week and has more tankers waiting to load.
Fujairah Ship-to-Ship Sale
Saudi Aramco sold at least 4 million barrels of crude loading outside the Strait of Hormuz to two Chinese refiners, trade sources told Reuters on Thursday. The world's top oil exporter offered Arab Medium and Arab Heavy cargoes on Monday for loading via ship-to-ship transfers off Fujairah in the United Arab Emirates through private negotiations with some Asian refiners. PetroChina and Sinochem each bought 2 million barrels of the heavier Saudi grades at premiums, the sources said.
Hormuz Loading Status
Saudi Aramco resumed oil loading from inside the Strait of Hormuz last week, trade sources told Reuters. The Saudi state oil company has more tankers waiting to load, the sources said. The companies typically do not comment on commercial deals.
1 source
Reuters reports Saudi Aramco sold 4 million barrels outside Hormuz to China
