# Aramco seeks access to foreign strategic oil storage, CEO says > Amin Nasser said Aramco and Saudi Arabia are discussing access to government-held strategic storage abroad and want to expand overseas capacity, especially in Asia. No timetable or current capacity figure was disclosed. - **Source date:** 2026-10-22 - **Original source:** [Reuters](https://boereport.com/2026/10/22/saudi-aramco-seeks-to-partner-with-countries-to-expand-its-oil-stockpile-ceo-says/amp/) - **Reading time:** 3 min read - **Language:** English - **URL:** https://voltformer.com/news/aramco-seeks-foreign-strategic-oil-storage-october-2026 - **Markdown:** https://voltformer.com/news/aramco-seeks-foreign-strategic-oil-storage-october-2026.md - **Keywords:** Saudi Arabia, Oil and Gas, Oil Storage, Supply Security, October 2026, Industry assessment ## Talks with governments over strategic storage Reuters reported on October 22 that Saudi Arabia and Aramco were seeking partnerships with other countries to expand strategic oil storage. Chief executive Amin Nasser told Al Arabiya Business that commercial storage available through partners was limited, while larger capacity was held in strategic reserves owned by governments. He said the Saudi Energy Ministry was working with counterparts abroad to make such storage available to Aramco. Nasser also said Aramco wanted to double its overseas oil-storage capacity, particularly in Asia, its largest market. He did not give a timetable or disclose its current overseas capacity. The proposal is therefore a stated direction and ongoing discussion, not a completed reserve-access agreement. [Reuters](https://boereport.com/2026/10/22/saudi-aramco-seeks-to-partner-with-countries-to-expand-its-oil-stockpile-ceo-says/amp/) · [Trade Arabia](https://www.tradearabia.com/News/488396/Aramco-seeks-to-increase-overseas-strategic-oil-storage-capacity) · [Bloomberg (Business Standard syndication)](https://www.business-standard.com/amp/world-news/saudi-arabia-seeks-access-to-foreign-strategic-oil-reserves-for-aramco-126102200679_1.html) ## Existing storage and stated purpose Trade Arabia reports that Aramco already maintains commercial storage facilities in South Korea, Japan, the Netherlands and at Sidi Kerir in Egypt. The new effort would add or expand access to government-owned strategic reserves alongside commercial arrangements. These are different kinds of stock: the reports do not say Aramco owns foreign government reserves, only that it is seeking access. Nasser framed storage as a way to make customer supply more resilient during disruptions and prepare for demand recovery. He estimated oil demand could rise by about three million barrels per day after regional conditions normalize, including additional consumption and stock replenishment. That is his outlook, not a confirmed future demand increase. [Reuters](https://boereport.com/2026/10/22/saudi-aramco-seeks-to-partner-with-countries-to-expand-its-oil-stockpile-ceo-says/amp/) · [Trade Arabia](https://www.tradearabia.com/News/488396/Aramco-seeks-to-increase-overseas-strategic-oil-storage-capacity) · [Bloomberg (Business Standard syndication)](https://www.business-standard.com/amp/world-news/saudi-arabia-seeks-access-to-foreign-strategic-oil-reserves-for-aramco-126102200679_1.html) ## Storage alongside export-route resilience Nasser’s comments came amid a broader focus on protecting Saudi supply routes and logistics. Reuters separately reported that Aramco was studying additional crude export routes; the East-West pipeline carries oil from eastern production areas to the Red Sea, bypassing Hormuz. The storage discussion is a separate resilience measure: it concerns where crude can be held and accessed, not a new pipeline or disclosed production increase. The reports do not identify the countries in current strategic-storage talks, specify a volume Aramco would place abroad, or explain release and replenishment rules. Those details will determine whether access provides a practical buffer during disruption and how an arrangement would work commercially. [Reuters](https://boereport.com/2026/10/22/saudi-aramco-seeks-to-partner-with-countries-to-expand-its-oil-stockpile-ceo-says/amp/) · [Trade Arabia](https://www.tradearabia.com/News/488396/Aramco-seeks-to-increase-overseas-strategic-oil-storage-capacity) · [Bloomberg (Business Standard syndication)](https://www.business-standard.com/amp/world-news/saudi-arabia-seeks-access-to-foreign-strategic-oil-reserves-for-aramco-126102200679_1.html) ## What remains unconfirmed The main open questions are the counterpart governments, legal terms, barrels and locations involved, and schedule for any capacity increase. Neither Nasser’s interview as summarized by Reuters nor related coverage says negotiations have produced a signed agreement. No current storage figure or cost is available, so the proposed doubling cannot yet be translated into a quantified inventory target. For oil-market watchers, the announcement points to a policy and logistics response to supply risk rather than immediate new barrels. Confirmation would require a named agreement, announced capacity or volume, and details on access rights and operations. Until then, Aramco’s overseas storage expansion remains an objective under discussion. [Reuters](https://boereport.com/2026/10/22/saudi-aramco-seeks-to-partner-with-countries-to-expand-its-oil-stockpile-ceo-says/amp/) · [Trade Arabia](https://www.tradearabia.com/News/488396/Aramco-seeks-to-increase-overseas-strategic-oil-storage-capacity) · [Bloomberg (Business Standard syndication)](https://www.business-standard.com/amp/world-news/saudi-arabia-seeks-access-to-foreign-strategic-oil-reserves-for-aramco-126102200679_1.html) ## Other languages - [en](https://voltformer.com/news/aramco-seeks-foreign-strategic-oil-storage-october-2026) - [tr](https://voltformer.com/tr/news/aramco-seeks-foreign-strategic-oil-storage-october-2026) - [de](https://voltformer.com/de/news/aramco-seeks-foreign-strategic-oil-storage-october-2026) - [ru](https://voltformer.com/ru/news/aramco-seeks-foreign-strategic-oil-storage-october-2026) - [es](https://voltformer.com/es/news/aramco-seeks-foreign-strategic-oil-storage-october-2026) - [ar](https://voltformer.com/ar/news/aramco-seeks-foreign-strategic-oil-storage-october-2026) - [it](https://voltformer.com/it/news/aramco-seeks-foreign-strategic-oil-storage-october-2026) - [pt](https://voltformer.com/pt/news/aramco-seeks-foreign-strategic-oil-storage-october-2026) [Company and energy news](https://voltformer.com/news.md) · [Voltformer catalog](https://voltformer.com/catalog)