Asian Refiners Seek Saudi Oil Pickup at Sidi Kerir for September Cargoes as Red Sea Risks Rise
Updated
Updated · Yahoo Finance · Aug 17
Asian Refiners Seek Saudi Oil Pickup at Sidi Kerir for September Cargoes as Red Sea Risks Rise
3 articles · Updated · Yahoo Finance · Aug 17
Summary
At least two Asian refiners asked Saudi Aramco to let them lift September contract cargoes at Egypt’s Sidi Kerir instead of Yanbu, as shipowners grow wary of Red Sea voyages.
Houthi attacks on tankers and energy infrastructure have made it harder to secure vessels through the Red Sea, even though Yanbu became a key Saudi outlet after the Strait of Hormuz disruption.
One refiner may skip its monthly allocation because shipping crude from Sidi Kerir around Africa to Asia would raise costs, despite contract flexibility that allows buyers to defer volumes.
Aramco asked Japanese and South Korean refiners to collect some September cargoes at Sidi Kerir, while most buyers in China, Taiwan and India were told to load at Yanbu; the company declined comment.