• 4 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 7 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 10 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 13 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 7 hours The 5 Scary New Rules Of Upside-Down Capitalism
  • 1 hour Hydrogen Hurdles in Japan
  • 3 hours Winter Storms Hitting Continental US
  • 16 hours More dumbed down? re Hong Kong Act of Congress
  • 8 hours U.S. Shale To Break Records Despite Bearish Rhetoric
  • 8 hours PennEast Appealing Wacky 3rd Circuit Decision to Supreme Court
  • 10 hours Impeachment S**te
  • 5 hours Aramco IPO magic trick
  • 9 hours Contaminated Oil
  • 21 hours U.S. Shale Output may Start Dropping Next Year
  • 8 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 18 hours Petroleum Industry Domain Names
  • 23 hours Crazy Stories From Round The World
  • 8 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 8 hours Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
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