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Saudi Aramco trading arm inks new deal to sell jet fuel
- Saudi Arabia: Sunday, December 30 - 2012 at 03:30
Saudi Aramco Products Trading Co, the new trading arm of state-run oil producer, has finalised a January to June 2013 term contract to sell jet fuel with at least one buyer, Reuters has reported. The company has agreed to sell undisclosed volumes of the fuel at a premium of about $2.70 a barrel above Middle East quotes for the cargoes, to be loaded from Jubail, nearly 30% 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, according to traders.
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