Bloomberg News

Saudi Aramco to Provide Full Crude Supplies to Europe

May 10, 2012

Saudi Arabian Oil Co., the world’s largest crude exporter, will supply full volumes in June to customers in Europe, unchanged from this month, according to two refinery officials with knowledge of the matter.

Saudi Aramco, as the company is known, will provide 100 percent of crude cargoes sold under long-term contracts, said the officials, who declined to be identified because the agreements are confidential.

The kingdom exported in January 860,000 barrels a day of Arab Light and Extra Light crude, 20,000 barrels of Arab Medium, and 10,000 barrels of Arab Heavy grade to European members of the Organization for Economic Cooperation and Development except Hungary, the International Energy Agency said in its monthly oil market report on April 12.

Saudi Aramco will also provide full supplies to customers in Asia next month, according to buyers at four regional refiners who received notification from the producer.

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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