Aramco Boosts Oil Availability Outside Hormuz Amid Safety Concerns

Saudi Aramco has made more oil available for loading outside the Strait of Hormuz in September, according to four sources. The move comes after Aramco sold at least 4 million barrels of oil to China this month.

The company is using ship-to-ship (STS) transfers off Fujairah in the UAE or Sohar in Oman to avoid attacks during transit through the strait.

Aramco has started a sales process for Arab Medium and Arab Heavy crude with Asian buyers, with bids due by Wednesday. Two supertankers carrying 4 million barrels of Saudi crude were bound for China after loading cargoes via STS transfers off Sohar.

The VLCC Xin Hui Yang is expected to arrive at the Ningbo port in eastern China on September 15, while the VLCC Xin Han Yang will arrive at the Zhanjiang port in southern China on September 12. Both vessels are carrying oil for Sinopec, the world's largest refiner.