Large cargo butane price squeezed by Statoil offers

07 February 2014 18:19  [Source: ICIS news]

LONDON (ICIS)--Values of large butane cargoes have fallen on offers from Norwegian oil and gas multinational Statoil, sources said on Friday.

The company has offered a 20,000-tonne butane cargo in open market trading throughout the week, dropping its offer from 95% of naphtha to 94%.

“On large butane today or yesterday Statoil have been in the market looking to sell 20,000 tonnes and they came down yesterday to 94%. It’s very difficult to place such large cargoes,” explained one source.

By: Richard Welbirg
+44 208 652 3214

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