Saudi Aramco Restores Full November Crude Supply to Europe After Pipeline Attack

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Summary · why it matters

Saudi Aramco has reportedly told European oil refiners it will deliver all the crude oil they requested for November after the kingdom's main cross-country pipeline returned to operation following attacks. At least three European refiners confirmed they will receive full allocations of crude from the state oil company next month, according to Bloomberg News, which cited people familiar with the matter. The resumption eases a tight European market that had forced refiners to hunt for alternative sources after Aramco notified them last month that they would receive no crude in October following an attack on the East-West pipeline. Orlen SA, the largest buyer of Saudi crude, issued more than ten tenders to secure replacement barrels during the disruption. Saudi Arabia typically exports an average of 700,000 to 800,000 barrels per day of crude to Europe, according to ship tracking data compiled by Bloomberg.

Impact on assets 5

Energy Transition & Power Demand▲
Polski Koncern Naftowy ORLEN SA
0FMN
▲ PositiveSupplyrelevance

Orlen will receive full November crude allocations from Aramco after the pipeline attack disruption, easing its feedstock supply crunch.

Consumer Staples▲
Others▲

Off-coverage companies 1

Saudi Aramcoi
Private▲ PositiveSupplyrelevance

Aramco restored full November crude supply to European refiners after its East-West pipeline returned to operation following attacks.