Today: 20 October 2025
28 August 2022
1 min read

Saudi Arabia’s June fuel imports increase

It is a slight change in the partnership, considering that the Kingdom purchased the low-priced fuel directly from Russia before the Ukraine conflict…reports Asian Lite News

Saudi Arabia’s fuel oil imports in June surged 60 percent to 307,000 barrels per day compared to the same month last year to meet the increasing energy demand for air conditioning to quell the summer heat.

According to the global energy market analysis body Joint Organizations Data Initiative, this rise marks the highest year-on-year change since November 2020, when fuel oil imports rose by 94.5 percent to 354,000 bpd.

The northbound trend in fuel oil imports started in May when Saudi fuel imports increased 78.5 percent to 241,000 bpd from 135,000 bpd in April and further rose 27.4 percent in June.

Historically, the Kingdom’s fuel oil consumption usually doubles during the sweltering heat of the summer season since the oil is burned in the power generation of cooling systems. As a result, it has to import the commodity to satisfy the seasonal demand.

According to media and research reports, the Kingdom sourced 34.3 percent of its June imports from Egypt, 25.5 percent from the UAE and 21.1 percent from Estonia, besides procuring fuel oil from other countries.

It is a slight change in the partnership, considering that the Kingdom purchased the low-priced fuel directly from Russia before the Ukraine conflict.

In 2017, Saudi Arabian Oil Co. signed a memorandum of understanding with Litasco, the trading arm of Russia’s second-largest oil company Lukoil, to trade non-Saudi crude.

The deal entailed regular fuel oil cargoes delivered to the Kingdom until year-end.

The Kingdom’s fuel oil imports from Russia presently transit via Estonia’s Tallin Port. There is also a share of the oil imports that are shipped to Aramco’s storage facilities in Egypt’s Ain El-Sokhna and the hub of Fujairah in the UAE and then diverted to Saudi Arabia’s Dammam and Jeddah ports.

ALSO READ-Saudi Arabia joins ‘Hercules-2’ military exercises in Egypt

Previous Story

Serena and Venus receive doubles wild card to US open

Next Story

Saudi foundation prepares 200 students for US varsities

Latest from Arab News

Clearing A Mess in Gaza

Municipalities across Gaza have mobilized their limited resources to clear streets and set up temporary shelters for thousands of displaced families…reports Asian Lite News The conflict has left behind an estimated 55

Gaza, Malaysia to help Gaza Rebuild

Egyptian, Malaysian leaders discuss Gaza aid, reconstruction amid ceasefire…reports Asian Lite News Egyptian President Abdel Fattah al-Sisi and Malaysian Prime Minister Anwar Ibrahim spoke by phone about efforts to support Gaza’s reconstruction,

Netanyahu to Run Again in 2026

When asked whether he expects to win, Netanyahu said, “Yes.”…reports Asian Lite News Israeli Prime Minister Benjamin Netanyahu has confirmed his bid for re-election in the 2026 parliamentary polls. He made the

UK backs Egypt-led Gaza stabilisation force

Britain takes an advisory and strategic role in US-backed efforts to establish a UN-mandated international force in Gaza and guide reconstruction plans estimated at £50bn…reports Asian Lite News Britain is taking a
Go toTop

Don't Miss

Iran-Saudi talks in limbo

The Iranian side has “unilaterally and temporarily” suspended the talks

Lebanon Wants To Mend Ties With Saudi Arabia

Lebanese President Michel Aoun said that his country is keen