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South Korea doubles down on Saudi crude

Seoul dabbles with Russian and US crude but Middle East remains primary source

Relations between South Korea and Saudi Arabia have continued to strengthen, and this is clearly reflected in the record crude flows from the Opec behemoth to the Asian economic powerhouse.   Back in November 2022, Seoul and Riyadh pledged stronger ties on energy, defence and construction, as the Saudis signed $30bn of investment agreements with South Korean firms. Meanwhile, Saudi Arabia’s key oil grades have become a bigger part of the Korean diet despite the perceived importance of diversification and the lure of cheap Russian barrels that neighbours such as China and India have been snapping up. 41pc – Saudi portion of April’s imports Saudi crude accounted for 1mn bl/d, or 41pc,

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Oil and gas price divide raises threat levels, part 2
23 May 2025
LNG projects need the certainty of long-term contracts, but Henry-Hub–linked deals put buyers at significant risk
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22 May 2025
Industry says compliance is near-impossible and have called for more clarity to prevent cargoes being redirected
Oil and gas price divide raises threat levels, part 1
22 May 2025
The next energy crisis could come from the severing of the link between oil and gas prices, with potentially severe economic consequences
Saudi Arabia and Kuwait home in on disputed Dorra field
22 May 2025
With contract awards looming on the Kuwait-Saudi backed Dorra field, the long-stalled gas project appears finally to be gaining traction—despite Iranian objections

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