Saudi petchem feedstock supplies rebound

Saudi petrochemical companies have seen their curbed petrochemical feedstock supplies rebound in the aftermath of the attacks on oil infrastructure in the country over the weekend.

Sabic said feedstock supplies from fellow state-owned Saudi Aramco have increased to 70pc of normal supplies as of today from 51pc when the curbs were implemented on 15 September, while fellow Jubail-based producer Advanced Petrochemical was back to 80pc from a previous 60pc. Tasnee's feedstock supplies were back to 75pc from a 59pc shortfall, while Sabic affiliate Yansab said its supplies rebounded to 83pc from 70pc.

The four Saudi producers said they expect feedstock supplies to return to normal levels by the end of September. This is in keeping with Saudi Arabia saying it expected its crude operations to return to previous levels by the end of September.

Saudi Arabia's oil minister Prince Abdulaziz bin Salman said yesterday the country has been able to restore half of the 5.7mn b/d of crude production affected by attacks on key oil infrastructure over the weekend. The country will fulfil all its crude obligations to customers this month, partly by drawing stocks out of storage.

The 14 September attacks have so far halted production an estimated 2bn ft³/d (21bn m³/yr) of associated gas, cutting Saudi supplies of ethane and natural gas liquids by 50pc.