Bloomberg News

Exxon Mobil Said to Sell Yanbu Fuel Oil to Vitol at $25 Discount

July 31, 2012

Exxon Mobil Corp. (XOM:US) sold an 80,000 metric-ton fuel-oil cargo to Vitol Group loading next month in Yanbu, Saudi Arabia, according to three people with knowledge of the transaction.

The cargo was sold at a discount of about $25 a ton below Singapore prices, according to two of the people, who asked not to be identified because the information isn’t public. That compares with a discount of $19 to $20 that Bakri International Energy paid to Exxon for a similar cargo earlier this month, according to data compiled by Bloomberg News.

Details of the transaction are as follow:

---------------------------------------------------------------
Quantity:       80,000 tons
Sulfur:         maximum 4%
Price:          About $25 a ton discount to Singapore prices
Centistoke:     650
Loading time:   around Aug. 10 to Aug. 15
Loading port:   Yanbu
----------------------------------------------------------------

The oil’s centistoke rating is a measure of its viscosity, or flow rate, when heated.

To contact the reporter on this story: Winnie Zhu in Singapore at wzhu4@bloomberg.net

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


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Companies Mentioned

  • XOM
    (Exxon Mobil Corp)
    • $93.64 USD
    • 2.48
    • 2.65%
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