OREANDA-NEWS. Saudi Arabia's state-owned Saudi Aramco has offered its term customers in Asia-Pacific additional volumes of Arab Extra Light crude.

A 250,000 b/d expansion at the 750,000 b/d Shaybah field — which produces Arab Extra Light — was due to come on stream this year and is likely to account for the additional volumes Aramco has offered.

Japanese and South Korean refiners are term buyers of Arab Extra Light crude, but weakening light distillate refining margins and the ample availability of more competitively priced rival light sour grades, such as Abu Dhabi's Murban and Das crudes, are likely to limit interest from Asia-Pacific refiners for additional volumes.

The capacity expansion at Shaybah, as well as the 300,000 b/d expansion at the 1.2mn b/d Khurais field, aims to keep Saudi Arabia's production capacity at 12mn b/d.

Saudi Arabia and other Opec members are locked in a battle to expand their market share on Asia. Opec members will meet in Vienna this week, although the gathering is not expected to result in agreement on a collective production level.