Saudi Aramco sells 55,000 tonnes naphtha for 11-13 June loading

05 June 2012 09:15  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Aramco has sold 55,000 tonnes of A310 naphtha for loading on 11-13 June from Ras Tanura, Saudi Arabia, a company source said on Tuesday.

The company sold the naphtha at a premium of about $25/tonne (€20/tonne) to Middle East quotes FOB (free on board) to an aromatics trader/end-user, the source said.

Some traders said the buyer is likely to be Chevron Phillips Chemical. Company officials of Chevron Phillips Chemical could not be reached immediately for comment.

Most traders deemed the premium to be slightly high amid the current bearish sentiment.

However, the source said: “The A310 grade contained some heavy naphtha grade, so, it can fetch a higher premium.”

Saudi Aramco released on Monday night an offer of another spot A310 naphtha cargo with a maximum volume of 55,000 tonnes for loading on 26 June from Al Jubail, the source said.

($1 = €0.80)

By: Ong Sheau Ling
+65 6780 4359

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