SAUDI ARABIA

Saudi Arabia Adds to Floating Storage to Boost Availability of Associated Gas for Domestic Requirements 

MEES understands that Saudi Arabia has arranged for the chartering of three ULCC/VLCC tankers for late July loading at Ras Tanura for purposes of floating storage. This would indicate the addition of a further 5-6mn barrels to the Kingdom's existing world-wide floating storage volume, which is reckoned to total around 50-60mn barrels. However, no sales have been...