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Saudi Aramco seals jet fuel deal for Jan-June term: Traders

29 Dec 2012

(MENAFN) Saudi Aramco Products Trading Co, the trading arm of giant oil firm Saudi Aramco, has sealed a January to June 2013 term deal to sell jet fuel with at least one buyer, Reuters reported, citing industry traders.

The traders said the company has agreed to sell undisclosed volumes of the fuel at a premium of about USD2.70 a barrel above Middle East quotes for the cargoes, to be loaded from Jubail. That is nearly 30 percent higher than its current term contracts.

Aramco is still negotiating the sale of term cargoes to be loaded from the Red Sea port of Rabigh, and may finalise these by year-end, they added.

Meanwhile, Aramco has finalised with at least 4 to 5 companies its gasoil term for next year, traders said. Sellers include Shell and Vitol, they added.

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