Saudi Arabia: More Refining, More Burn, Less Exports (% Share Of Crude Production)

>Saudi Arabia saw record refining runs of 2.17mn b/d in August as the 400,000 b/d Satorp plant continued to ramp up to full capacity. Throughputs are set to rise further in the coming months with a second 400,000 b/d plant, Yasref, starting up in late September.

>Increased domestic refining has cut into the crude volumes available for export: crude exports at 6.66mn b/d were the lowest since March 2011.

>Direct crude burning fell by 130,000 b/d to 770,000 b/d in August. But year-to-date volumes, at almost 600,000 b/d, are up 130,000 b/d on the same period last year. The total oil burn, including fuel oil, was 940,000 b/d for January-August 2014, up almost 190,000 b/d on the January-August 2013 figure, which was in itself a record.


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