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Saudi Aramco To Ramp Up Jizan Diesel Output

OIL PRODUCTS

Saudi Aramco's Jizan refinery is set to increase output of ultra-low sulphur diesel and reduce exports of vacuum gasoil as it ramps up production in the second quarter, which could boost fuel exports to Europe, industry sources said.

  • The refinery could produce up to 250kbpd of ULSD, or 10-ppm gasoil, when it hits full capacity.
  • Both Saudi Aramco and Kuwait Petroleum Corp are ramping up output from new refineries this year, which will help meet supply shortfalls in Europe and cool prices of refined products.
  • "Increasing availability of Middle Eastern gasoil will also weigh on arbitrage opportunities to ship Asian gasoil to West of Suez," FGE analysts said.
  • "We expect the share of Middle Eastern volumes in Europe's diesel import mix to increase relative to Asia in the coming months."
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