• 4 minutes USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 10 minutes IT IS FINISHED. OPEC Victorious
  • 16 minutes GOODBYE FOREIGN OIL DEPENDENCE!!
  • 13 hours The Great Climate Change Swindle
  • 48 mins Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 5 hours End of EV Subsidies?
  • 3 hours Price Decline in Chinese Solar Panels
  • 29 mins Maersk's COO statment.
  • 1 day S. Australia showing the way
  • 23 hours More OPEC Members May Leave
  • 14 hours China Builds LNG Icebreaker
  • 11 mins Trump accuses Google Of Hiding 'Fair Media' Coverage of him
  • 17 hours Exxon buys green power.
  • 7 hours EPA To Roll Back Carbon Rule On New Coal Plants
  • 2 days I Believe I Can Fly: Proposed U.S. Space Force Budget Could Be Less Than $5 Billion
  • 2 days Qatar Leaving what is the effect on prices
Alt Text

Is This The Most Crucial Factor For Oil In 2019?

Weakness in global equities and…

Alt Text

The Biggest Losers Of The Current Oil Price Slump

The repercussions of the latest…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Trending Discussions

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:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
-->