Saudi Arabia has recommenced crude oil loading operations at the Ras Tanura Ju'aymah offshore terminal in the Persian Gulf, according to shipping tracking data. The terminal had been shut down for nearly four months due to regional conflict, forcing the kingdom to reroute its crude exports away from the Strait of Hormuz to the Red Sea.
Data from commodity analytics firm Kpler indicates that two Very Large Crude Carriers (VLCCs) began loading crude at the terminal, operated by state oil giant Saudi Aramco, on Thursday. An additional tanker was waiting offshore at anchor and is likely to dock for loading soon. Each VLCC can carry approximately 2 million barrels of crude.
Following the signing of a provisional ceasefire agreement between the U.S. and Iran, tanker traffic through the Strait of Hormuz has rebounded significantly. As oil-producing nations prepare to restore production and export capacity, crude shipments through this critical waterway have reached their highest level since the conflict escalated in late February.
The Ras Tanura integrated complex, located on Saudi Arabia's Persian Gulf coast, houses a major refinery and the world's largest offshore crude loading facility. The vast majority of Saudi crude destined for markets in Asia and Europe is exported via this terminal.
The terminal's crude exports averaged approximately 6 million barrels per day in the fourth quarter of last year. Earlier this year, following attacks attributed to Iran and the blockade of the Strait of Hormuz, Saudi Aramco was compelled to shut down the terminal. It diverted crude flows via pipelines to the Red Sea port of Yanbu for export instead.
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