Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent in Gaza: Four fetuses and three premature babies died at Nasser Medical Complex due to malnutrition
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out major bombings in the Gaza Strip, the most violent since October 7
Yemeni Armed Forces spokesperson Brigadier General Yahya Saree: The missile force carried out a major operation using the Palestine 2 ballistic hypersonic missile, hitting several targets in occupied Yafa.
Sirens sound in large areas of occupied Palestine after a missile launch from Yemen was detected

Saudi oil import from Russia doubles in second quarter

  • By Al Mayadeen English
  • Source: Agencies
  • 17 Jul 2022 22:39
  • 1 Shares
4 Min Read

The increased sales of fuel oil to Saudi Arabia highlight the challenges the US President faces as he seeks to court MBS to increase Saudi oil output among others.

  • x
  • Lukoil, Russia's second largest oil company, produces two percent of the world's crude oil (AFP)
    Lukoil, Russia's second-largest oil company, produces two percent of the world's crude oil (AFP)

Saudi Arabia, the world's largest oil exporter, more than doubled the amount of Russian fuel oil it imported in the second quarter to feed power plants to meet summer cooling demand and free up the Kingdom's own crude for export as per trade data and analysis.

Russia has been selling fuel at reduced prices as a result of batches of draconian Western sanctions following the war in Ukraine. 

The increased sales of fuel oil to Saudi Arabia, which is used in power generation, highlight the challenges the US President Joe Biden is facing as his administration seeks to isolate Russia and reduce its energy export revenues, not to mention courting MBS to increase Saudi oil output.

Biden was in Saudi Arabia, on Friday, and was expected to seek an increase in oil supply to global markets from the Kingdom in order to help lower oil prices, which have exacerbated global inflation.

It is worth noting that Russian oil imports have also increased in China, India, and several African and Middle Eastern countries.

However, Saudi Arabia and others have little spare capacity to increase production. Saudi Arabia has also maintained its cooperation with Russia in the OPEC+ global producer alliance. In that group, they are the de facto leaders of OPEC and non-OPEC producers.

Saudi Arabia imported 647,000 tons (48,000 barrels per day) of fuel oil from Russia via Russian and Estonian ports in April-June of this year as per data obtained by Reuters through Refinitiv Eikon ship tracking.

This was an increase from 320,000 tons in the same period last year.

Related News

Suspending possible OPEC+ deal 'deliberate disinformation' - Expert

Diplomat: Moscow will find other oil importers after EU's embargo

Saudi Arabia imported 1.05 million tons of Russian fuel oil in 2021.

Saudi Arabia has been importing Russian fuel oil for several years, which can reduce the amount of oil it needs to refine for products and reduce the amount of oil it needs to burn for power, leaving it with more unrefined crude to sell on international markets at higher prices.

The Kingdom relies on oil to meet its power needs, which typically peak as summer temperatures rise. Some Saudi cities are located at a long distance from natural gas fields, which could provide cleaner fuel for power generation.

According to the Joint Organizations Data Initiative (JODI), the volume of crude burned is approximately 600,000 bpd in the summer and 300,000 bpd in the winter. Natural gas use has increased, reducing the amount from as much as 1 million bpd in 2010.

Saudi Arabia has also imported more Russian fuel oil through the Middle East oil hub of Fujairah in the United Arab Emirates, according to traders.

Fujairah has received 1.17 million tons of Russian fuel oil so far this year, up from 0.9 million in the same period last year.

An additional 0.9 million tons could be delivered to Fujairah in July alone, bringing the total to 2.1 million so far this year, exceeding the 1.64 million tons for the entire year of 2021 as per shiptracking.

In the meantime, crude and product exports were at or near an all-time high of 9 million bpd in February-April, according to JODI figures, with crude exports alone at or near 7.3 million bpd.

Read more: Biden goes home with no Saudi commitment on oil production: WSJ
 

  • Saudi Arabia
  • Russian oil imports
  • Russia
  • Biden
  • US
  • Ukraine

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Israeli police and rescue teams respond at the scene of a shooting attack where several people killed and injured in Jerusalem, Monday, Sept. 8, 2025 (AP)

Al-Quds shooting: 7 settlers killed, several critically injured

  • Politics
  • 8 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

Pro-'Israel' far-right Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
People protest against Israeli Prime Minister Benjamin Netanyahu during the 79th session of the United Nations General Assembly, in New York, on Friday, September 27, 2024 (AP)
Politics

'Israel' stops unfunded diplomacy ahead of UN, October 7 memorial

An Israeli Air Force fighter jet releases flares over the Gaza Strip, is seen from southern occupied Palestine, Thursday, May 8, 2025 (AP)
Politics

OIC summit draft: Israeli attack on Qatar risks normalization

People shout slogans and hold Palestinian flags while protesting during the twenty-first stage of La Vuelta cycling race from Alalpardo to Madrid, Spain, Sunday, Sept. 14, 2025. (AP)
Sports

Pro-Palestine protests force abrupt end to Vuelta a España finale

Damage is seen after an Israeli strike targeted a compound that hosted Hamas' political leadership in Doha, Qatar, on Wednesday, September 10, 2025 (AP)
Politics

Israeli regime faces growing isolation over Qatar strike: Reports

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS