Aramco Finds a New Way to Keep Saudi Crude Flowing to China
Saudi Arabia is bypassing the Strait of Hormuz to keep crude flowing to Asia, using ship-to-ship transfers outside the strait. Saudi Aramco is offering more September crude to Asian buyers after data showed tankers moving through Hormuz with tracking systems switched off for a second week. Earlier this month it resumed loading at Ras Tanura and Juaymah, while routing additional barrels west via the East-West pipeline and Egypt’s Sidi Kerir terminal for Europe.