Aramco Ensures European Oil Supply Amid Strait of Hormuz Disruptions

Saudi Aramco has committed to delivering full contractual oil volumes to at least three European refiners in September, despite ongoing disruptions to Saudi Arabia's normal export routes.

The company will provide crude from Egypt, Saudi Arabia, and through ship-to-ship transfers off Malta, as reported by Bloomberg. Two of the refiners will receive their barrels from Egypt's Mediterranean port of Sidi Kerir, while a third has the option to choose between Sidi Kerir, Yanbu in Saudi Arabia's Red Sea, or a ship-to-ship transfer off Malta.

This move adds supply certainty for European refiners at a time when Saudi Arabia's two primary maritime export routes remain under pressure due to the Iran conflict. Traffic through the Strait of Hormuz continues to be heavily disrupted, while Houthi attacks have made the Red Sea increasingly difficult for commercial shipping.

Aramco has been diverting crude north through Egypt as an alternative to sending tankers south from Yanbu, which has become a risk due to the Houthi threat. The company resumed loadings at Ras Tanura and Juaymah last week after a three-week interruption, with three Very Large Crude Carriers (VLCCs) loading approximately 2 million barrels each between August 12 and August 16.