Saudi Arabian Oil Co., or Saudi Aramco, will supply full term volumes of crude to its European customers in March, unchanged from last month, people familiar with the situation at three European customers told Dow Jones Newswires Thursday.

The supply is in line with volumes received by term lifters in recent months.

However, the people also said it is possible that some refiners will receive extra barrels in March, as they look to cover requirements amid increasingly tight sanctions against Iran .

"European refineries are asking for spot barrels [from Saudi Arabia ]," said a person at one of the Kingdom's European term customers.

The U.S. and the European Union have imposed stringent sanctions on Iran , which are making it ever more difficult for the Islamic Republic to sell its oil. The EU plans to implement a full embargo against exports of Iran 's crude from July 1.

Uncertainty over the supply situation in Europe has made many oil consumers nervous, though Saudi Arabia has pledged to make up for any missing barrels.

"We have normal allocations at the moment and we aren't receiving more volumes yet, but obviously with all the things with Iran everyone is talking to Saudi Arabia ," said a trader at a major European refiner.
Ακολουθήστε το energia.gr στο Google News!Παρακολουθήστε τις εξελίξεις με την υπογραφη εγκυρότητας του energia.gr

Διαβάστε ακόμα