Khaberni - Reuters quoted sources, stating that Saudi Aramco has requested buyers to solely receive Arabian Light crude from Yanbu during the upcoming month of April.
Informed sources reported on Monday that Saudi Aramco, the world’s largest oil exporter, reduced its crude oil supplies to Asian buyers in April, following the disruption of trade through the Strait of Hormuz caused by the US-Israeli war with Iran.
The sources clarified that the company will supply contracted customers in April with only Arabian Light crude sourced from the port of Yanbu.
Reuters agency reported, citing a source in the energy sector, that Amin Nasser, CEO of Saudi Aramco, has canceled his scheduled participation in the CERAWeek energy conference in Houston, USA.
The source stated that he will also not send a recorded video message to the conference, adding that the event organizers have been notified of this.
It is noted that Amin Nasser is usually one of the main speakers at the conference, which is one of the largest events in the energy sector.
The CERAWeek conference, organized by Standard and Poor’s Global and starting on Monday, attracts top executives, government officials, and policy makers from around the world to discuss the prospects of the global energy market.
In a related context, Reuters quoted another source saying that Sheikh Nawaf Al-Sabah, the Vice Chairman and CEO of the Kuwait Petroleum Corporation, will also not attend the conference in Houston, but will participate in one of its sessions on Tuesday via the internet from Kuwait.
This comes against the background of threats by US President Donald Trump to destroy power stations in Iran unless the Strait of Hormuz is opened within 48 hours.
The ongoing military operations in the region have led to a rise in oil and gas prices in global markets.
Amin Nasser previously told reporters that there would be "catastrophic consequences" for global oil markets if the Iranian war continues to disrupt transit through the Strait of Hormuz.
