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Saudi attacks rattle shippers’ plan to switch fuels

“The outage has crimped global supplies of diesel, which Saudi Arabia regularly exports in large volumes” writes Midwest Communications Inc for 95kqds.com. “We’re losing diesel supplies, at least temporarily, because Saudi Arabia will prioritize restoration of oil exports over refinery output,” he said.LONDON/NEW YORK (Reuters) – Refinery outages in Saudi Arabia following weekend attacks on its oil facilities could deal a blow to the shipping industry’s preparations for the biggest switch in fuel standards in decades.When processed, both sour grades produce a large proportion of high-sulphur fuel oil (HSFO), a cheap and dirty fuel used for ships and power plants, including in Saudi Arabia.The attack on the Abqaiq processing plant also hit Saudi Arabia’s supplies of Arab Extra Light crude, a light, sour grade, and Arab Light, a medium sour crude grade.
 
Source: 95kqds.com



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