REFINING: Jizan Refinery Maintenance to Hit Total Refined Product Exports

Jan-29 15:29

Jizan refinery maintenance to hit road fuel and residual fuel supply across multiple regions in Q1, according to Vortexa.

  • Saudi Aramco’s Jizan refinery is currently undergoing a full turnaround; the 50-day maintenance schedule began on Jan. 4.
  • Total refined product exports from Jizan in the first 20 days of January averaged ~70k b/d, down from ~180k b/d in December 2024, with diesel exports particularly limited.
  • Diesel from the refinery tends to be exported to the Red Sea area (~22k b/d) and Med/Black Sea region (~35k b/d). Northwest Europe usually receives ~12k b/d of diesel imports from the Jizan refinery.
  • Jizan typically exports ~30k b/d of gasoline to Southeast Asia.
  • The refinery exports roughly 25k b/d of residual fuel oil to Northwest Europe and the Baltics, as countries such as Sweden and Estonia seek to replace Russian fuel oil.

 

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Source: Vortexa

Historical bullets

STIR: BLOCK: Jun'25 SOFR Call Spreads vs. Puts

Dec-30 15:09
  • 15,000 SFRM5 96.125/96.62 call spds 4.5 over SFRM5 95.56 puts vs. 95.945/0.36% crossed at 1004:08ET

MNI: US NAR NOV PENDING HOME SALES INDEX 79 V 77.3 IN OCT

Dec-30 15:00
  • MNI: US NAR NOV PENDING HOME SALES INDEX 79 V 77.3 IN OCT
  • US NAR NOV PENDING HOME SALES +2.2% MOM; +6.9% YOY

US DATA: MNI Chicago Report™: Most Plan Rise In Inventory Due To Strike Risk

Dec-30 14:51

The Chicago Report™ also asked firms in December “Have you put any contingency plans in place in the event of a further port worker strikes?” Of the respondents that answered:

  • Almost half (48%) were looking to increase inventories of raw materials.
  • A third (33%) expressed plans to increase finished goods inventory.
  • Only 10% selected plans to increase production.
  • Again none planned to increase employment levels and 24% selected “Other”.
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