Saudi Aramco halts crude oil supply to European customers
Saudi Aramco told European refiners they will get no crude next month, and Poland’s Orlen SA issued more than 10 tenders for replacement supplies.
- On Friday, Saudi Aramco notified European refiners that crude deliveries are suspended for next month following a drone attack on the East-West pipeline that connects to the Red Sea.
- A drone attack last week shut the East-West pipeline, which typically transports crude to a Red Sea export terminal, disrupting the established supply route for European customers.
- OECD countries in Europe imported 577,000 barrels a day of Saudi crude in June, while Poland's Orlen SA issued more than 10 tenders this week seeking alternative supplies.
- Refiners have engaged in panic buying to cover the shortfall, forcing companies to seek replacement barrels immediately as they respond to the supply disruption.
- The East-West pipeline is due to partially restart within days and return to full capacity within six weeks, according to a person familiar with the matter.
97 Articles
97 Articles
Saudi Aramco halts October crude deliveries to some European refiners after pipeline attack, says report
The disruption has prompted customers, including Poland’s Orlen, to seek alternative crude supplies, with traders saying the refiner bought North Sea grades to replace disrupted Saudi imports
Saudis give European oil buyers no supplies for next month
Saudi Aramco told at least two oil refining customers in Europe that they will be allocated no crude next month under long-term agreements after the kingdom’s key pipeline to the Red Sea was attacked, people informed of the decision said.
According to Bloomberg, Saudi Aramco told at least two oil refinery customers in Europe that they will not be assigned crude next month.
The European energy market has been rocked by Saudi Aramco's announcement that it will cut off oil supplies for the next month. According to Bloomberg, Saudi Arabia has informed two European refiners that they will not be supplied with crude oil, extending supply disruptions caused by the attack on the East-West pipeline. It is noted that European customers usually receive crude oil shipments from Saudi Arabia under "fixed-term contracts", which…
Coverage Details
Bias Distribution
- 63% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
