Saudi Arabia’s Risky Market Share Sacrifice

The 600,000 barrels per day Port Arthur refinery has
exclusively processed Saudi Arabian crude since 1988, when Saudi
Aramco first bought a stake in the facility—the largest of its kind
in the United States. But Riyadh’s new strategy of constricting
exports to the United States, along with several Asian countries,
has reduced supplies to Motiva and several other refineries across
the country. “The drop is huge,” said Amrita Sen of Energy Aspects
in London. “It’s not just that Saudi exports are low, but they have
been low for several…

The 600,000 barrels per day Port Arthur refinery has
exclusively processed Saudi Arabian crude since 1988, when Saudi
Aramco first bought a stake in the facility—the largest of its kind
in the United States. But Riyadh’s new strategy of constricting
exports to the United States, along with several Asian countries,
has reduced supplies to Motiva and several other refineries across
the country. “The drop is huge,” said Amrita Sen of Energy Aspects
in London. “It’s not just that Saudi exports are low, but they have
been low for several…