Aramco to buy gasoline

Published January 13th, 2011 - 08:25 GMT
Aramco
Aramco

Industry sources said that the Saudi national oil company giant, "Aramco" had signed an agreement to buy up to 360,000 tons of gasoline from "BP" and "Lukoil" for the period from January to June at prices below the market levels.

The Saudi al-Iqtisadia newspaper said that that Saudi Arabia the world's biggest oil exporter in the world has signed the deal to buy 95 octane gasoline and 91 octane gasoline at prices higher by U.S. $ 15-16 and US$5-6 dollars compared to the price index for shipments of the Mediterranean basin. It also has an option to buy 95 octane gasoline at prices higher by U.S.$ 2-2.10 of the price index for Singapore and 91 octane gasoline at U.S.$ 1.90-2 higher compared to the price index for Singapore.

A trader of petrol commented: "It's really crazy prices …It is less than the real levels of the market."

 


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