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2 clusters · 4 sources · 7 days · First seen · Last updated

Saudi Aramco oil supply shifts to China

Overview

Saudi Aramco has implemented large-scale spot tenders to supply crude oil to Chinese refiners, including PetroChina, Sinochem Group, and Sinopec. To mitigate supply chain risks and security concerns stemming from tensions between the United States and Iran, these shipments are increasingly bypassing the Strait of Hormuz.

Instead of using the strategic waterway, Aramco is utilizing ship-to-ship transfers near Fujairah in the United Arab Emirates or Sohar in Oman. This shift toward spot purchases allows Chinese refiners to capitalize on price discounts while seeking more secure, diversified supply routes. Some maritime data indicates that tankers have even disabled automatic tracking systems while transiting the Strait of Hormuz to avoid being localized.

Entities

China · Saudi Aramco · Fujairah · PetroChina · Sinochem Group

Timeline

  1. about 10 hours ago

    [BUSINESS] 3 sources
    Saudi Aramco bypasses Strait of Hormuz to supply oil to China

    Saudi Aramco is bypassing the Strait of Hormuz by using ship-to-ship transfers in Oman and the UAE to deliver oil to China amid heightened regional security risks.

  2. 7 days ago

    [BUSINESS] 2 sources
    Saudi Aramco sells millions of barrels of crude to China via spot tenders

    Chinese refiners, including PetroChina and Sinochem, have purchased millions of barrels of Saudi crude via rare spot tenders, utilizing loading points outside the Strait of Hormuz to ensure supply security.

Sources

cryptobriefing.com · news20.ro · paratic.com · stiripesurse.ro