Saudi Aramco's Jizan refinery is set to increase output of ultra-low sulphur diesel (ULSD) and reduce exports of vacuum gasoil (VGO) as it ramps up production in the second quarter, industry sources said.
The refinery could produce up to 250,000 barrels per day of ULSD, or 10-ppm gasoil, when it hits full capacity.European countries have been looking to replace supply from Russia after the European Union imposed an embargo on Russian oil product imports from Feb. 5.
"Increasing availability of Middle Eastern gasoil will also weigh on arbitrage opportunities to ship Asian gasoil to West of Suez," FGE analysts said in a note.
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