FINANCIAL NEWS

Saudi Aramco to launch oil terminal, enhance loading capacity

02 May 2017

(MENAFN) Saudi Aramco aims to launch its Muajjiz oil terminal on the Red Sea in the coming year, boosting its total loading and export capacity to 15mn barrels per day.

Additionally, the terminal has been used as an export terminal for Iraqi crude amid the Iraqi Pipeline in Saudi Arabia (IPSA).

Moreover, the kingdom has used the IPSA pipeline to transport gas to power plants in the west of the nation for years before test opening in 2012.

The oil terminal would enhance the kingdom’s whole oil handling capacity to 15mn barrels per day from 11.5mn bpd recently, while the extra capacity from Muajjiz will be integrated into the Yanbu terminal.

MENAFN0205201700450000ID1095445147

MENAFN0205201700450000ID1095445147

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