Saudi Arabia has stopped the supply of crude oil to European customers next month after a drone attack on one of its important oil pipelines. According to Bloomberg, Saudi Aramco has informed at least two European refining companies about this. This decision will apply to all European buyers. Three pumping stations of the East-West Pipeline were damaged in the attack last week. Saudi Arabia has blamed drones of Iran-backed militia operating in Iraq for this. This pipeline transports oil to the Red Sea. Saudi Aramco’s East-West pipeline is about 1,200 kilometers long. It transports oil from the eastern part of Saudi Arabia to the Red Sea. From here oil can be sent to other countries. The pipeline was shut down after the attack. According to satellite images released on September 17 and information from people associated with the industry, three pumping stations located in its path have been damaged. European companies started looking for other ways. After the closure of the pipeline, some European companies have started buying crude oil from other countries instead of Saudi oil. Polish oil company Orlen has issued more than 10 tenders since Friday to get alternative supplies. According to the International Energy Agency, European countries included in the OECD bought about 5.77 lakh barrels of crude oil per day from Saudi Arabia in June. If Saudi supplies are not received next month, European refineries will have to make up the shortfall from other sources. The pipeline and the important East-West Pipeline have been closed amid the blockage in the Strait of Hormuz at a time when oil supplies from the Middle East are being affected due to the blockage in the Strait of Hormuz for the last six months. Saudi Arabia could reduce its dependence on the Strait of Hormuz by sending oil to the Red Sea through this pipeline. Through this, about 40 lakh to 50 lakh barrels of crude oil was being sent daily. This quantity is about 4 to 5% of the world’s total oil supply. For this reason, this pipeline remained a very important route for Saudi Arabia. Now its closure has increased the pressure on alternative routes and sources for the supply of Saudi oil. Additionally, European buyers will have to rely on other sources instead of Saudi oil. After Hormuz, danger has increased on Bab al-Mandeb Strait. After Hormuz, now the danger on Bab al-Mandeb Strait has also increased. Iran-backed Houthi rebels in Yemen have rapidly expanded their occupation along the Red Sea. According to recent reports, the Houthis have taken control of Perim Island and several areas of Yemen’s west coast. This has increased the danger to the movement of ships in Bab al-Mandeb. Bab al-Mandeb is an important route for shipping between Asia and Europe. Through this route through the Red Sea and Suez Canal, ships loaded with oil and other goods reach Europe and other markets. Due to the recent situation the number of ships passing through here has also been affected. How much oil does India buy from Saudi? India buys millions of tonnes of crude oil from Saudi Arabia every year. In the financial year 2024-25, India purchased 33.14 million tonnes or about 3.31 crore tonnes of crude oil from Saudi. This was 13.58% of India’s total crude oil imports. This means that if there is a major disruption in Saudi supply, India may also have to buy more oil from alternative suppliers. However, India also has other sources like Russia, Iraq, America, Africa and Latin America, so the decrease in supply from Saudi does not mean that there will be a shortage of oil in India immediately. ———————– Also read this news… Iranian President will go to New York despite war with America: Got US visa, will address the United Nations; Why can’t he be arrested? There is a war going on between America and Iran for 7 months. Despite this, Iranian President Massoud Pazhakian and Foreign Minister Abbas Araghchi will attend the UNGA meeting to be held in New York next week. Read the full news…
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