Saudi Arabia oil port loaded up to 11.1 million barrels a day
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Fri April 27, 2012 12:39 pm

SAUDI ARABIA. Oil tankers able to haul a combined 11.1 million barrels a day went to the Saudi Arabian crude- export terminal at Ras Tanura in the latest week, ship-tracking data compiled by Bloomberg show.

Vessels with a combined capacity of 10.6 million deadweight tons arrived at the port in the week to April 21, compared with 11.3 million tons a week earlier, the data show. To estimate that tonnage in terms of barrels a day, the figure was multiplied by 7.33 to calculate the total barrels and then divided by seven, the number of days in the period.

Some of the ships may not have loaded all their cargoes at Ras Tanura, the data show. China will be the largest recipient, followed by South Korea. The Ras Tanura complex, including Ras al-Ju’aymah, is the world’s biggest crude terminal, according to the website of state-owned Saudi Arabian Oil Co., known as Saudi Aramco.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: April 17, 2014
KUWAIT. According to a newly released report by Kuwait Finance House Research, the global sukuk market saw a modest volume of US$31.14 billion in new sukuk issuances in 1Q2014. This volume represents a drop of 9.82% compared to US$34.53 billion worth of issuances in 1Q13.
date:Posted: April 16, 2014
INTERNATIONAL. The WGC pointed out that the Chinese bank savings amount to US$7.5 trillion but only about US$300 billionn is allocated to gold, signifying the potential for gold demand to grow as Chinese wealth climbs.
date:Posted: April 16, 2014
UAE. "A similar drop to 2013 is unlikely. Those who wanted to get out of gold did, and the rest of 2014 will probably be a year of sideways trading."
dhgate