Saudi Aramco aims to re-open a 1.6mn b/d Red Sea export terminal next year as it bids to increase logistical flexibility.

Aramco senior VP for upstream Muhammad al-Qahtani told Reuters this month that the overhauling of the Mu’ajjiz terminal is nearing completion and it is set to open in 2018. Along with oil export facilities of around 4.5mn b/d at nearby Yanbu, this will put total Red Sea export capacity at approximately 6.1mn b/d.

Mr Qahtani puts current Saudi oil and refined...