Saudi Aramco To Supply Full Contract Specified Volumes of Oil To North Asian Customers

Various sources with knowledge of the situation, Saudi Aramco has informed at least four customers in North Asia that they will receive full contract volumes of crude oil in April.

Saudi Arabia, the world's largest oil exporter, increased prices for the flagship Arab light crude it sells to Asia for the second month in a row in April, bolstered by the prospect of strong demand in the region.

Saudi Aramco, also known as the Saudi Arabian Oil Group (formerly Arabian-American Oil Company) or simply Aramco, is a public Saudi Arabian petroleum and natural gas company headquartered in Dhahran. It is one of the world's largest companies in terms of revenue as of 2022. Saudi Aramco has the world's second-largest proven crude oil reserves, with over 270 billion barrels (43 billion cubic metres), as well as the largest daily oil production of any oil-producing company. Since 1965, it has been the single largest contributor to global carbon emissions of any company in the world.

The Master Gas System, operated by Saudi Aramco, is the world's largest single hydrocarbon network. It manages over one hundred oil and gas fields in Saudi Arabia, including 288.4 trillion standard cubic feet (scf) of natural gas reserves, and its crude oil production totaled 3.4 billion barrels (540 million cubic metres) in 2013. Saudi Aramco operates the world's largest onshore oil field, the Ghawar Field, and the world's largest offshore oil field, the Safaniya Field.