Saudi Aramco buys oil to meet obligations to foreign refineries

To fulfill obligations to foreign partners, Saudi Aramco buys oil from neighboring countries after an attack on its oil facilities. It is reported by with reference to Reuters.

According to sources, the trading division of the company, Aramco Trading Corp negotiates oil deliveries from the United Arab Emirates and Kuwait to fulfill obligations to foreign refineries, including in neighboring Bahrain, as well as in Malaysia and South Korea.

Aramco Trading Corp (ATC) did not respond to the media request for comment.

Although the Kingdom said it will fully recover oil production after the attacks until next week, it seeks help from other producers in the Persian Gulf region to provide customers and bridge possible gaps due to a temporary disruption, sources said.

The ATC is negotiating a small supply of UAE oil to the Bahrain refinery and other plants from the state oil company Abu Dhabi, two sources said.

“ADNOC (Abu Dhabi National Oil Co) will ship 2-3 million (barrels of light brand oil) Murban to Bahrain”, one source said.

Recall that on September 14, drones attacked Saudi Aramco's facilities, resulting in a fire. After the attack, the company reduced daily oil production by 5.7 million barrels.

Subsequently, the company announced its intention to “unfreeze” its reserve fields and begin production there.

Tags: contracts, oil, hydrocarbon production, legislation, Top management, energy market, добыча нефти, drilling, Oil refinery plant, foreign affairs, oil transit

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