Aramco Reroutes Crude Through Fujairah Amid Strait of Hormuz Closure
Saudi Aramco has started privately negotiating crude sales outside the Strait of Hormuz with certain Asian refiners, according to Reuters News based on two informed sources. This approach mirrors that used by Abu Dhabi National Oil Co (ADNOC) of the United Arab Emirates.
Aramco is discussing the delivery of Arab Medium and Arab Heavy grades through ship-to-ship transfers near Fujairah in the UAE, the sources said. The shipments are slated for September loading, although it remains unclear how Aramco transported the barrels to Fujairah.
This move represents another indication of crude flows adapting to the ongoing closure of the Strait of Hormuz. In addition to this, Aramco has also rerouted its Arab Light crude to the Red Sea terminal at Yanbu for export and made the same grade available from Egypt's Sidi Kerir port on the Mediterranean after Houthi attacks in the Red Sea.