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: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

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

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
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025
UKLFI’s latest faux pas, like "Israel’s" recent failed attempt at regime change in Iran, is unambiguously indicative of a flailing entity on the verge of extinction. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

Zionist lawfare operation facing collapse?

  • Opinion
  • 13 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A Hezbollah supporter who lost his sight in a pager attack carried out by "Israel" on Sept. 17, 2024, covers his eyes with a red headband inscribed with the name "Hussein" during Ashoura, July 6, 2025 (AP)
Politics

'We Have Recovered': Lebanon marks 1st anniversary of Pager Attack

The Arab neighborhood of El Za'im, on the outskirts of east Occupied Al-Quds in the West Bank, near where Israeli government says housing units will be built as part of the E1 settlement project, Thursday, August 21, 2025. (AP Photo/Ohad Zwigenberg)
Palestine

'Israel’s' deliberate policies drive West Bank economy toward collapse

Ben & Jerry's ice cream shop, Wednesday, Feb. 26, 2025, in Cambridge, Mass. (AP Photo/Charles Krupa)
Politics

Ben & Jerry’s co-founder resigns over parent company curbing activism

Trump’s approval rating falls to new low in second term: Poll
US & Canada

Trump’s approval rating falls to new low in second term: Poll

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