Saudi Aramco is reportedly postponing crude oil and petroleum product deliveries as well as substituting heavy crude for light grades. Sources told Reuters on September 20 that the Saudi national oil company was making these changes in order to ensure its ability to maintain exports in the wake of the September 14 attacks on key oil infrastructure facilities.
The sources, who spoke on condition of anonymity, said the company had already informed many of its customers of its need to push back delivery dates for oil and fuel shipments in October by seven to 10 days. The company has also asked other buyers in Asia to accept different grades of crude and to delay delivery, they said.
Meanwhile, Saudi Arabia’s problems are also having a knock-on effect in neighboring countries. One of Reuter's sources noted that Bahrain had been forced to delay the loading of a very large crude carrier (VLCC) with Arab Medium crude for shipment to Japan.
“They informed us [of the postponement], but every day it's revised,” the source said. “I’m afraid the situation is more serious than we assumed, but still, information is limited.”