{"id":101567,"date":"2025-10-19T00:00:00","date_gmt":"2025-10-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/19\/bahri-renews-10-year-crude-oil-shipping-contract-with-south-koreas-s-oil\/"},"modified":"2025-10-19T00:00:00","modified_gmt":"2025-10-19T00:00:00","slug":"bahri-renews-10-year-crude-oil-shipping-contract-with-south-koreas-s-oil","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/19\/bahri-renews-10-year-crude-oil-shipping-contract-with-south-koreas-s-oil\/","title":{"rendered":"Bahri renews 10-year crude oil shipping contract with South Korea\u2019s S-Oil"},"content":{"rendered":"

\n

OIL & GAS-<\/p>\n

South Korea\u2019s S-Oil taps Bahri for crude oil:<\/strong> Saudi Arabia\u2019s national shipping company Bahri renewed its long-term contract of affreightment with South Korean refiner S-Oil Corporation, according to a statement<\/a> released on Thursday. The contract was extended for a 10-year period, the statement read, without disclosing the transaction\u2019s value.<\/p>\n

The details:<\/strong> Bahri is set to transport crude oil cargoes via very large crude carriers (VLCCs) from the Red Sea and the Arabian Gulf to South Korea\u2019s Onsan. Under the contract, S-Oil will receive a minimum of around 70 mn barrels of crude per year. <\/p>\n

Bahri + S-Oil have a shared history<\/strong>, with the agreement marking a 20-year partnership milestone between the pair. The two players inked the original contract back in 2015<\/a>, which was forecast to generate some USD 67 mn. The renewal reaffirms this \u201cmutual trust and long-standing partnership\u201d as the companies work together to strengthen economic and energy ties between the two countries, Bahri CEO Ahmed Al Subaey said.<\/p>\n

Expansion capacity:<\/strong> Bahri added nine<\/a> VLCCs earmarked at USD 1 bn in September \u2014 bringing its total operational fleet to 50 of the advanced vessel model. The deliveries came one year<\/a> after Bahri signed a SAR 3.75 bn (c. USD 1 bn) agreement with global shipping outfit Capital Maritime and Trading Corporation to procure nine VLCCs.<\/p>\n

\n

EXPANSION-<\/p>\n

The National Bank of Egypt (NBE) inaugurated its first Saudi branch in Riyadh on <\/strong>Thursday<\/strong>, after receiving clearance from the Saudi Central Bank to operate in the kingdom, according to a statement (pdf)<\/a> from the state-owned bank. CEO Mohamed El Etreby said the branch marks a key step in NBE\u2019s international expansion strategy and will focus on corporate banking and trade finance services for companies operating in Saudi Arabia.<\/p>\n

\n

RETAIL-<\/p>\n

Apparel Group signed an agreement with Arabian Alesaar Group to bring 24 <\/strong>international <\/strong>brands to Al Shubaily Grand Mall, covering over 9k sqm<\/strong>, as part of its expansion in the Kingdom, according to a press release<\/a>. The new stores will include names such as Calvin Klein, Tommy Hilfiger, Levi\u2019s, Skechers, Birkenstock, Charles & Keith, R&B, Tim Hortons, Cold Stone Creamery, and Nando\u2019s, among others. <\/p>\n

ICYMI-<\/strong> Apparel Group and Banque Saudi Fransi signed a partnership during the Money 20\/20 Conference last month<\/a> to enable point redemption across 27 brands and 400 branches. <\/p>\n","protected":false},"excerpt":{"rendered":"

AND- The National Bank of Egypt opened its first branch in the Kingdom<\/p>\n","protected":false},"author":1,"featured_media":101568,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2564],"tags":[54,1056,10],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-capital-market-authority-cma","tag-enterpriseam-ksa","wpautop","entry"],"acf":{"mongo_id":"f0bc62d3-56a1-41c0-9085-fab8fe2c9f75","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/8\/704.jpg","photo_position":"above","homepage_title":"","full_issue_title":"South Korea\u2019s S-Oil taps Bahri to ship 70 mn barrels of crude per year under 10-year contract","related_issue":[101548],"teaser":"AND- The National Bank of Egypt opened its first branch in the Kingdom","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.62ff9850-a22d-4e90-b95a-682d9f017965.mp3"},"yoast_head":"\nBahri renews 10-year crude oil shipping contract with South Korea\u2019s S-Oil - 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