Saudi Aramco, Saudi Arabia's state-owned oil company, offered raw shipments to European buyers for October and November, some discounted against the official selling price after reactivating the East-West pipeline. The company informed European refineries that they will receive the total volumes scheduled for November in their future contracts.
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28/10/2026
by
Lusa
A Saudi Aramco, Saudi Arabia's state-owned oil company, offered raw shipments to European buyers for October and November, some with a discount against the official selling price after reactivating the East-West pipeline.
According to Bloomberg, the Saudi company offered, earlier this month, shipment of crude to be shipped by the end of October, while last week had already made shipments available for November.
The October shipments were offered with a discount on Aramco's official selling price and can be lifted at Sidi Kerir's Mediterranean port or Yanbu, located on the coast of the Saudi Arabian Red Sea.
The oil company had previously informed the European refineries that they would not receive crude this October, after an attack on the East-West pipeline had interrupted Yanbu's exports.
However, the infrastructure has resumed operations, allowing the company to increase exports and help relieve supply tensions on the European market.
Aramco informed European refineries that they will receive the total volumes set for November in their future contracts.
The increase in Saudi offer has contributed to the fall in prices this week for some varieties of crudes traded in Europe, according to market operators.