Aramco Escapes Hormuz Threats, Sells 8M Barrels to China
Saudi Aramco has increased oil exports outside the Strait of Hormuz in September by selling at least 4 million barrels to China, according to sources. This move comes after the company sold a similar amount of heavy grades to PetroChina and Sinochem last week.
Aramco has used tankers with switched-off trackers and ship-to-ship transfers off Fujairah and Sohar to evade attacks during transit through the strait, which accounts for a fifth of global oil and gas shipments. The offers come after two supertankers carrying 4 million barrels of Saudi crude were bound for China after loading via STS transfers off Sohar.
The VLCC Singapore Prosperity transferred its Saudi crude cargo to the Xin Hui Yang, which is expected to arrive at eastern Chinese Ningbo port on September 15. Another VLCC, Algeria Prosperity, transferred its cargo to the Xin Han Yang, which is expected to arrive at Zhanjiang port in southern China on September 12.