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Despite being the world’s top crude producer, Saudi Arabia has consistently been a net importer of gasoline and gasoil.
Gasoline and gasoil imports into Saudi Arabia’s key Gulf port of Ras Tanura dried up this year as the nearby 400,000 b/d Saudi Aramco-Total joint venture Satorp refinery ramped up towards full capacity – which it is expected to reach by year end. Gasoline imports fell from 23,000 b/d in January-August 2013 to zero for the first eight months of 2014; gasoil volumes fell to a mere 4,000 b/d.
The 400,000 b/d Aramco/Sinopec Yasref refinery at Yanbu on Saudi Arabia’s Red Sea coast ran its first crude through its single CDU last month. However, MEES understands that Yasref production will not significantly impact imports of gasoil and gasoline into the nearby port of Jiddah.
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