FINANCIAL NEWS

Aramco sells 2m barrels of new crude blends

05 Apr 2011

(MENAFN) Saudi Aramco stated that it sold 2 million barrels of new blends of crude oil, and it plans on producing one more shipment of those blends for sale or storage, reported Times of Oman.

The oil giant also said that the 3 cargos were sold to BP and OMV in March. Aramco pointed out that the additional cargo would contain 1 million barrels.

The Saudi state-owned company added that the prices of the country’s Super Light, Extra Light and Light grades rose 26 percent last quarter in Asia. It also said that Super Light Asia prices climbed to USD116.39 a barrel.

It is worth noting that Gulf’s crude oil prices, particularly in Asia, went up in the first quarter of 2011, staying in line with Europe’s Brent oil which climbed 24 percent.

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