Saudi Aramco opens new storage facility

SAUDI ARAMCO: New storage facility to minimise supply disruptions. (Getty Images)

Saudi Aramco has opened a new refined oil products storage facility allowing for greater  flexibility in refinery maintenance scheduling and the minimisation of supply disruptions, the state news agency said on Sunday.

The 650,000 barrel facility, situated underground in Qassim, central Saudi Arabia, is linked to a distribution terminal with a 46-mile-long (74-km) oil pipeline, state news agency SPA said.

It is the last of five similar storage facilities that were opened in Jeddah, Abha, Medina and the capital Riyadh, according to SPA.

"(The facilities) have allowed greater flexibility in the scheduling of maintenance works at refineries and in avoiding any shortage in supplying consumers," Abdul-Aziz al-Khayyal, Aramco's senior vice-President for industrial relations, said in a statement.

The facilities would also cut operating costs and reduce reliance on land transport to move petroleum products within the sprawling country, he added. (Reuters)

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