A new storm could hit Europe if the report published by Bloomberg on 18 September 2026 is confirmed. According to the news agency, European refineries could receive no Saudi crude shipments at all in October. The report says Saudi Aramco has told at least two customers on the continent that they will receive no allocation next month, citing people familiar with the decision who asked not to be identified. According to these sources, the suspension of supplies affects all European buyers with term contracts, agreements that guarantee a steady flow of supplies each month. Aramco did not respond to the agency's request for comment, and the suspension has so far received no official confirmation.
The decision stems from the shutdown of the East-West Pipeline, also known as Petroline, which crosses Saudi Arabia from east to west. The 1,200km pipeline carries crude from fields in the Eastern Province to the Yanbu terminal on the Red Sea, allowing Saudi exports to bypass the Strait of Hormuz. Riyadh was forced to shut it last week after an attack by drones launched from Iraq severely damaged three pumping stations. In recent weeks, the pipeline had been carrying 4-5 million barrels a day, equivalent to 4-5% of global supply. There is only an unofficial timetable for restoring operations. A source close to the matter told Bloomberg that the pipeline could partially restart within days and return to full capacity within six weeks, while Reuters sources estimate that full restoration will take five to six weeks and say a partial resumption could take place while repairs are under way. Neither Aramco nor the Saudi Ministry of Energy has announced any dates.
Crude destined for Europe follows a logistics chain that depends directly on the flow of crude reaching Yanbu: tankers bound for European refineries normally load it at Sidi Kerir, an Egyptian Mediterranean port connected to the Red Sea by pipeline. The volumes involved are substantial: in June, European OECD countries imported 577,000 barrels a day from Saudi Arabia, according to the monthly oil market report from the International Energy Agency (IEA). The physical market had already begun to feel the effects of the damage to the Saudi pipeline before reports emerged of a possible halt to October supplies. Argus, cited by Euronews, recorded cancellations or delays to cargoes for at least three European refineries, with some shipments postponed until November. The pipeline shutdown has also triggered a rush by some Aramco customers to secure alternative supplies: Poland's Orlen has launched more than ten tenders since Friday 11 September and purchased 16 additional cargoes from Norway, the UK, Algeria, Kazakhstan, Azerbaijan and the Americas to cover refinery operations through October. The group nevertheless says deliveries to Poland and its other plants are continuing and fully cover demand.
P.R.
