Saudi Aramco is buying oil originating in neighboring countries to meet its supply obligations to foreign refineries, sources familiar with the matter told Reuters, after crippling attacks on the company’s installations 10 days ago.
The state firm’s trading arm is arranging for crude from the United Arab Emirates and Kuwait to cover its commitments to refineries outside the kingdom such as in neighboring Bahrain as well as Malaysia and South Korea, the sources said.
Aramco Trading Corp (ATC) did not immediately respond to a request for comment. Drone and missile attacks on two facilities that process mainly light crude knocked down about 5.7 million barrels per day, more than half of the production of the world’s top oil exporter.
Though the kingdom said it would restore full oil output by next week, it is seeking help from fellow Gulf Arab producers to keep its customers supplied and plug any gaps due to the temporary shortage, the sources said. Read More
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