Saudi Aramco has employed several tankers to ship crude oil, refined oil, and natural gas to various countries. It used to have its own created subsidiary company, Vela International Marine, which was merged with Bahri company, to handle shipping to North America, Europe, and Asia.
How much oil does Saudi Aramco produce?
Saudi Aramco operates the world’s largest single hydrocarbon network, the Master Gas System. In 2013, its crude oil production total was 3.4 billion barrels (540 million cubic metres), and it manages over one hundred oil and gas fields in Saudi Arabia, including 288.4 trillion standard cubic feet (scf) of natural gas reserves.
Which countries import Saudi Arabia’s crude oil?
Asia¡¯s oil demand and refining capacity grew significantly in the past decade, and it increased its share of Saudi Arabia¡¯s crude oil exports during that time. Other regions that import Saudi Arabia¡¯s crude oil include Europe (10%), the Americas (9%), Africa (3%), and other Middle Eastern countries (1%).22
What percentage of Saudi Arabia’s crude oil is exported to Asia?
Asia received an estimated 77% of Saudi Arabia’s crude oil exports (Figure 4) in 2020 and more than one-third of its refined petroleum products (Figure 5). Asia¡¯s oil demand and refining capacity grew significantly in the past decade, and it increased its share of Saudi Arabia¡¯s crude oil exports during that time.