Bloomberg News

Saudi Arabia Said to Offer Naphtha to Asia at Increased Premiums

May 22, 2012

Saudi Arabian Oil Co. offered to sell supplies of naphtha in the second half of this year at higher premiums than for the first half, according to three people with knowledge of the talks.

The company offered the A-310 naphtha grade at $33 a metric ton above Middle East benchmark prices, A-180 at $31 a ton and Jubail naphtha at $29 a ton, the people said, declining to be identified because the talks are confidential. Rabigh and Jeddah naphtha were both offered at $25 a ton, they said.

For the first half of 2012, the company sold A-180 naphtha at $19 above Middle East prices, according to data compiled by Bloomberg. The A-310 grade loading from Ras Tanura was set at $20 a ton, Rabigh at $17, Al-Jubail at $16.50 and Jeddah at $13.

Nobody answered an e-mail sent to Aramco’s media relations department or a telephone call to the company’s Singapore office.

To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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