Aramco Diversifies Crude Exports to Bypass Strait of Hormuz Disruptions

Saudi Aramco has started offering crude oil to Asian refiners outside the Strait of Hormuz through private negotiations, mimicking Abu Dhabi National Oil Company's (ADNOC) strategy.

The move involves ship-to-ship transfers off Fujairah in the UAE for Arab Medium and Arab Heavy crude cargoes. One source said these were for September loading.

This is a rare step by Aramco, which has traditionally relied on direct exports to key consuming markets like India.

The disruption of supplies from the Strait of Hormuz due to the US-Israeli war on Iran and attacks by Yemen's Houthis have curtailed Aramco's market share in these areas.