24 Hrs
Source:
الاقتصادية
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Saudi Energy Ministry Refutes Tanker Purchase
The Saudi Ministry of Energy confirmed that the Kingdom did not purchase 25 oil tankers and denied any link between the increase in Iraqi oil transportation costs and this matter. They explained that the rising transportation costs are due to factors such as military escalation, Iranian attacks on ships, and disturbances in the Strait of Hormuz, which have led to increased shipping risks, higher insurance costs, and a decline in the number of tankers operating in the region. The ministry emphasized that the current circumstances have caused an exceptional rise in shipping costs, and attributing this increase to Saudi Arabia is incorrect. It reaffirmed its right to make appropriate commercial and investment decisions in accordance with its interests.
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