Saudi Aramco Said to Supply Full January Crude Volume to Europe

Aramco has the option to reduce monthly sales volumes to term buyers.



Saudi Arabian Oil Co., the world’s largest crude exporter, will supply full contractual volume in January to customers in Europe, unchanged from this month, according to two refinery officials who received the notice.

Saudi Aramco will provide 100 per cent of crude cargoes sold under long-term contracts, said the people, who asked not to be identified because the agreements are confidential. While Aramco has the option to reduce monthly sales volumes to term buyers, the producer has not done so since November 2009.

Aramco in August exported 750,000 barrels a day of Arab Light and Extra Light blends, 30,000 barrels of Arab Medium and 130,000 barrels of Arab Heavy grade to European members of the Organization for Economic Cooperation and Development excluding Estonia, Hungary and Slovenia, the International Energy Agency said in its monthly oil market report on Nov. 14.

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