Middle East Oil Producers Prepare to Resume Exports via Strait of Hormuz

Deep News
04/10

Three informed sources stated that Middle Eastern oil-producing nations have requested Asian refiners to submit crude oil loading schedules for April and May, in preparation for eventually restoring shipments through the Strait of Hormuz.

Two of the sources indicated that Saudi Aramco, the world's largest oil exporter, has asked its customers to nominate vessels for loading in May from ports at Yanbu and Ras Tanura.

One source noted that the resumption of exports will depend on whether shipments from the eastern Ras Tanura port can restart; vessels departing from this port must pass through the Strait of Hormuz.

Last month, Saudi Aramco informed buyers that April loadings would only be possible from the western Yanbu port via the Red Sea.

Separately, two other sources reported that Kuwait Petroleum Corporation (KPC) has announced loading dates for April sales of Kuwait Export Crude (KEC) on a free-on-board (FOB) basis. One source mentioned that vessel nominations are underway, contingent on customers' shipping capacity.

Last month, KPC declared force majeure on delivered crude supplies after tankers were unable to enter the Persian Gulf for loading.

Saudi Aramco and KPC could not immediately comment outside of business hours.

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