• 3 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 5 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 9 minutes This Battery Uses Up CO2 to Create Energy
  • 12 minutes Shale Oil Fiasco
  • 3 hours Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 3 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 18 hours Indonesia Stands Up to China. Will Japan Help?
  • 8 hours US (provocations and tech containment) and Chinese ( restraint and long game) strategies in hegemony conflict
  • 6 hours Beijing Must Face Reality That Taiwan is Independent
  • 19 hours Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 23 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 10 hours Might be Time for NG Producers to Find New Career
  • 2 days Phase One trade deal, for China it is all about technology war
  • 6 hours Trump has changed into a World Leader
  • 1 day Anti-Macron Protesters Cut Power Lines, Oil Refineries Already Joined Transport Workers as France Anti-Macron Strikes Hit France Hard
  • 2 days Angela Merkel take notice. Russia cut off Belarus oil supply because they would not do as Russia demanded
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Saudis To Boost Oil Export Capacity To 15 Million Bpd In 2018

Saudi Arabia’s state-held oil giant Saudi Aramco will be launching in 2018 the revamped Muajjiz oil terminal on the Red Sea that would raise the Kingdom’s oil loading and export capacity to 15 million bpd from 11.5 million bpd now, Mohammed Y. Al Qahtani, Aramco’s Senior vice president of Upstream, told Reuters in an interview published on Monday.

Muajjiz was used for exports of crude oil from Iraq via the Iraqi Pipeline in Saudi Arabia (IPSA), but the terminal has not been used to load Iraqi oil since the Iraqi invasion of Kuwait back in 1990. IPSA was laid across Saudi Arabia in the 1980s after both sides attacked oil tankers in the Persian Gulf during the Iran-Iraq war. Saudi Arabia confiscated the pipeline in 2001 in exchange for debts Iraq owed.

In 2012, Iran threatened to block the Strait of Hormuz—which lies along the route of around 40 percent of the global seaborne oil exports—in retaliation to the Western sanctions. Then Saudi Arabia reopened IPSA to be ready to have alternative export route should Iran live up to its threat.

In 2018, Saudi Arabia’s additional capacity coming from the Muajjiz terminal will be integrated into the Yanbu crude oil terminal, and will handle increased fuel oil and Arabian Heavy crude supplies to the refineries Yasref, Jazan, and Jeddah.

According to Sadad al-Husseini, former senior executive at Aramco and now an energy consultant who spoke to Reuters, the Muajjiz terminal will boost Aramco’s flexibility in crude and oil product sales, as well as traffic out of the Red Sea “without affecting its intense operations out of the Arabian Gulf, which are largely dedicated to the Asian markets.” Related: What’s Behind This Sudden Drop In China’s Gold Production?

Saudi Arabia’s three key primary crude oil export terminals are Ras Tanura and Ras al-Ju'aymah on the Persian Gulf, and the Yanbu terminal on the Red Sea, according to the EIA. Ras Tanura has an average handling capacity of 3.4 million bpd, Ras al-Ju'aymah has a capacity of around 3 million bpd, and Yanbu, 1.3 million bpd. In addition to these export terminals, Saudi Arabia has other smaller terminals including Ras al-Khafji, Jubail, and Jeddah.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play