Saudi Aramco’s investment in strategic flexibility and developing diverse export outlets is paying dividends as the firm reinforces its position as a reliable supplier of crude oil and refined products to Europe amid the ongoing Red Sea turmoil.
The kingdom has refining capacity of 1.48mn b/d on its Red Sea coast, 1mn b/d of which is at Yanbu alongside the 400,000 b/d Petro Rabigh refinery around 175km down the coast. In addition to this, Saudi Aramco increased its Red Sea crude oil export capacity by 3mn b/d in 2019 with the rehabilitation of the Yanbu South (formerly Mu’ajjiz) terminal bolstering capacity at the existing Yanbu terminal (MEES, 19 October 2018). (CONTINUED - 1006 WORDS)
