Economy

Domestic refiners have claimed that Saudi Aramco is meeting supply commitments

Our Bureau New Delhi | Updated on October 01, 2019 Published on October 01, 2019

Following a drone attack on Saudi Aramco’s oil processing facilities at Abqaiq and Khurais in eastern Saudi Arabia, the Kingdom’s crude oil output was hit. File Photo   -  Bloomberg

Domestic refiners such as Reliance Industries Ltd and HPCL-Mittal Energy Limited (HMEL) have said that they have been assured by Saudi Aramco that crude oil supply and grade commitments will be met for October as well.

Following a drone attack on Saudi Aramco’s oil processing facilities at Abqaiq and Khurais in eastern Saudi Arabia, the Kingdom’s crude oil output was hit.

Also read: Houthi drone attack hit two Aramco plants, Saudis say fires contained

“It was reassuring that Aramco maintained scheduled crude supplies and fulfilled their supply commitments, in spite of the set-back caused by the attack on their crude supply infrastructure,” RIL spokesperson said.

Read more: No oil supply shortage, Saudi Arabia assures India

“In the immediate aftermath of the incident, Aramco maintained supply with alternate grades of crude oil. The alternate grades being heavier suited Reliance’s refining needs. That the volume and schedule of supply was maintained soon after the incident is creditable. Aramco have confirmed and reassured that supplies for October will be maintained both in terms of quantity and mix of grades as per our requirement,” the spokesperson added.

Officials in HPCL-Mittal Energy Limited (HMEL) too said that Aramco has met their full volume commitments.

“HMEL had planned 2 cargo liftings in September 2019 from Saudi Aramco, which turned out to be within 10 days of the attack, one on 18th and the second on 23rd. HMEL lifted the full planned volume in September on the planned dates without any issues,” the official said.

“Further Saudi Aramco has confirmed that it remains committed to supply the full term requirement for October 2019 and thereafter,” the official added.

Published on October 01, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.