Saudi Aramco First Marine Station in the Kingdom Supplies Yachts and Boats with Fuel

The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France, February 1, 2024. (Reuters)
The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France, February 1, 2024. (Reuters)
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Saudi Aramco First Marine Station in the Kingdom Supplies Yachts and Boats with Fuel

The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France, February 1, 2024. (Reuters)
The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France, February 1, 2024. (Reuters)

Saudi Aramco, one of the world's leading companies in the fields of energy and chemicals, announced on Saturday the opening of "Aramco Marina", its first marine station in the Kingdom to supply yachts and boats with fuel at the Jeddah Yacht Club on the Red Sea coast.

The station, which bears the new identity of the Saudi Aramco stations brand, is operated as part of the company’s efforts to contribute to developing the tourism sector in the Kingdom and the region. Its opening coincides with the Formula 1 Saudi Grand Prix that will take place in Jeddah on Saturday.

With a capacity of more than 65 million liters annually, the station provides diesel and gasoline to local and international customers.

Executive Vice President of the Business Sector for Products and Customers at Saudi Aramco Yasser Mufti said Saudi Aramco will continue to build various modern facilities to keep pace with the Kingdom’s efforts to establish comprehensive, advanced services by investing in the growth and contributing to the diversification of businesses and economy.

He added that the opening of the station represents a new chapter in the endeavor to expand the company’s presence in the Kingdom, raise the quality of life and enhance technological standards by establishing pioneering retail fuel stations that provide distinctive customer service, and help business, travel and tourism sectors in the Kingdom advance, creating an additional value for the economy.

The Jeddah Yacht Club is distinguished by its view of the waterfront next to the Corniche Formula 1 racing circuit. It boasts the first marina for yachts and boats on the Red Sea coast, and can accommodate huge and luxurious yachts of up to 120 meters in length. Next to the marina, there are international restaurants and cafés overlooking the sea.



Oil Edges up on Potential US Tariff Exemptions on Cars, Pick-up in China Crude Imports 

A general view of oil tanks located near the Teltowkanal canal in Berlin, Germany, 10 April 2025. (EPA)
A general view of oil tanks located near the Teltowkanal canal in Berlin, Germany, 10 April 2025. (EPA)
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Oil Edges up on Potential US Tariff Exemptions on Cars, Pick-up in China Crude Imports 

A general view of oil tanks located near the Teltowkanal canal in Berlin, Germany, 10 April 2025. (EPA)
A general view of oil tanks located near the Teltowkanal canal in Berlin, Germany, 10 April 2025. (EPA)

Oil prices inched higher on Tuesday, supported by new tariff exemptions floated by US President Donald Trump and a rebound in China crude oil imports in anticipation of tighter Iranian supply.

Brent crude futures gained 12 cents, or 0.2%, to $65 per barrel by 0350 GMT, while US West Texas Intermediate crude was up 13 cents, or 0.2%, to $61.66.

"Trump granted exemptions on electronic tariffs and signaled an auto tariff relief, both of which are seen as setbacks from the previously announced import levies, hence, providing some relief to risk assets, including oil," said independent market analyst Tina Teng.

"However, the rally in stocks and growth-sentiment commodities is skeptical, as his policy is unpredictable."

In the latest development in Trump's whipsawing trade war, he said he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other places.

The vacillating US trade policies have created uncertainty for global oil markets and pushed OPEC on Monday to lower its demand outlook for the first time since December.

The Trump administration had announced on Friday that it would grant exclusions from tariffs on smartphones, computers and some other electronic goods, most of which are imported from China. That drove both oil benchmarks to settle up slightly higher on Monday.

On Sunday, Trump said he would announce the tariff rate on imported semiconductors over the next week and a Monday Federal Register filing showed the administration had begun an investigation into imports of semiconductors on April 1.

"The market is digesting fast-moving policy developments on the tariff front, while balancing them with nuclear talks between the US and Iran," said ING analysts in a Tuesday note.

"Clearly, the market is more focused on tariffs and what they mean for oil demand."

US Energy Secretary Chris Wright said on Friday the United States could stop Iranian oil exports as part of Trump's plan to pressure Tehran over its nuclear program.

Also supporting prices were data on Monday showing that China's crude oil imports in March were up nearly 5% from a year earlier, as arrivals of Iranian oil surged in anticipation of tighter US sanctions enforcement.