Aramco turns to Egypt as Houthis disrupt Saudi oil exports: What to know
Riyadh is now looking to use the Mediterranean route more extensively after the Houthis on July 20 threatened to target oil exports passing through the Bab el-Mandeb Strait.
Saudi Arabia’s state oil giant Aramco has turned to a port in Egypt to export additional crude as the Iran war disrupts shipping through the Strait of Hormuz and Yemen’s Houthi rebels threaten to blockade the Bab el-Mandeb strait.
What happened: Reuters reported last week that Aramco was offering additional crude cargoes for shipment from Egypt’s Mediterranean port of Sidi Kerir following Houthi attacks on Saudi vessels transiting the Red Sea. Citing five anonymous sources, the newswire reported that the additional cargoes will be shipped first to Ain Sukhna Port on the Red Sea before being transported through the Suez-Mediterranean (SUMED) pipeline to Sidi Kerir for export to international markets.
Al-Monitor has contacted Aramco for comment.
Why it matters: The move suggests the world’s largest crude oil exporter is seeking to increase its use of alternative export routes as security threats disrupt Saudi Arabia’s traditional shipping networks.
