Saudi Aramcos crude oil deliveries grow 2.3% in 2018

Riyadh – Saudi Arabian Oil Company’s, better known as Saudi Aramco, crude oil deliveries rose 2.3%, or nearly 235,000 barrels per day (bpd) year-on-year, over the course of 2018.

Crude oil deliveries of Aramco, the world’s largest oil company, totalled 10.32 million bpd last year, compared to 10.08 million bpd in 2017, according to a prospectus issued by the kingdom’s oil giant for its first ever international bond.

Aramco’s total crude oil deliveries in the kingdom fell 2.9%, or about 88,000 bpd, to 2.977 million bpd in 2018, compared to 3.065 million bpd a year earlier and 3.03 million bpd in 2016.

This retreat was on the back of a drop in deliveries to domestic joint ventures and joint operations at unregulated prices which registered 1.86 million bpd last year from 1.9 million in 2017.

Meanwhile, local deliveries at regulated prices amounted to 410,000 bpd in 2018, down from 459,000 in the previous year.

In addition, deliveries to domestic wholly-owned refineries increased to 707,000 bpd at the end of last year, compared to 704,000 bpd in 2017.

Exports

Total international deliveries grew 3.2% or 229,000 bpd year-on-year to 7.33 million bpd in 2018, compared to 7.1 million bpd.

Asia accounted for 50.5% of Aramco’s total crude oil production and made up 71.1% of the oil giant’s international deliveries with 5.21 million bpd in 2018 from 5.07 million bpd a year earlier.

North America came in at the second place with 1.01 million bpd in 2018, compared to 1 million bpd in the prior year.

Meanwhile, Europe’s share rose to 864,000 bpd in 2018 from 779,000 in 2017.

Translated by: Zeinab Adel