Saudi Aramco Cancels October Oil Allocations to Europe Amid Pipeline Disruptions
Saudi Aramco has canceled its October crude oil allocations to European buyers due to disruptions in the East-West pipeline network. The decision affects all European refineries that rely on Saudi crude shipments.
The pipeline, also known as Petroline, was shut down after a drone attack last week. Although Bloomberg reported that partial operations are expected within days and full recovery is anticipated within six weeks, the cancellation of allocations has already taken effect.
European refineries typically receive regular shipments through supply contracts with Saudi Aramco. However, with the pipeline shutdown, these refineries have been forced to seek alternative oil supplies. The Polish oil refinery, Orlen, has issued over 10 tenders since Friday in search of replacement oil.