Gulf Oil and Gas accountACCOUNT

S.Aramco & Exxon Offer up to 90,000T of May Fuel Oil

Source: Reuters 4/9/2013, Location: Middle East

Saudi Aramco Mobil Refinery Company (SAMREF) is offering up to 90,000 tonnes of high viscosity fuel oil from its 400,000-barrel per day (bpd) Yanbu refinery in May, traders said.

The 700-centistoke (cst) cargo is scheduled to load between May 5 and 9, traders said, adding that the tender closes April 15, with validity extending to April 16.

Besides the high viscosity, the Yanbu cargoes are also high in density and sulphur and can be sold into either the Singapore or Fujairah bunker-blending market.

A March loading cargo of the Yanbu 700-cst cargo traded at a discount of $22 a tonne to the Singapore benchmark on a free-on-board (FOB) basis.

In 2012, a similar sized cargo for loading in early May was sold at a discount of $28 a tonne to the Singapore benchmark, but traders said it was more likely these cargoes would be transacted closer to a discount of about $20 to $22 a tonne.

The Yanbu refinery has been on planned maintenance since March 10 and is expected to be back online by the end of the month, traders said.

Oil News in Saudi Arabia >>

Nigeria >>  2/11/2019 - Sirius Petroleum, the Nigeria-focused oil and gas development and production company, is pleased to announce that it has entered into a Crude Handling...
Austria >>  2/6/2019 - During just six months crude oil prices ripped higher by about 20 percent, plunged more than 40 percent and snapped back 25 percent, an intense volati...

Venezuela >>  1/30/2019 - Oil prices rose on Jan. 29 after Washington imposed sanctions on state-owned Venezuelan oil company PDVSA in a move likely to curb the OPEC memberís c...
Iraq >>  1/28/2019 - Iraqi Oil Minister Thamir al-Ghadhban said that Iraq will supply neighboring Jordan with oil in accordance with a memorandum of understanding (MOU) to...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 

Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.