Saudi Arabia Seeks Access to Overseas Oil Storage for Aramco
Saudi Arabia is in talks with foreign governments to give state-owned Aramco access to their strategic oil storage, according to Chief Executive Officer Amin Nasser. The move follows Houthi attacks on Saudi infrastructure, including drone strikes that shut down its most important pipeline for several days in September. Aramco already holds commercial storage in South Korea, Japan, the Netherlands and Egypt's Sidi Kerir, and Nasser said the company wants to double its overseas capacity without giving a timetable.
Why it matters: The talks shift Saudi energy security planning beyond commercial inventories held abroad toward government-owned strategic reserves, linking export resilience to arrangements with partner states.