08/08/2009
Saudi Aramco has offered an additional 105,000 tonnes of spot naphtha for September lifting via private negotiations, just after it sold a cargo from Ras Tanura a day ago, traders said on Thursday.The recent offers made to a selected number of traders and oil firms were for the A180 grade naphtha as well as the Rabigh and Jeddah grades, traders said.
"They are now offering another 55,000 tonnes of A180 grade from Ras Tanura, and 55,000 tonnes of Rabigh and Jeddah grades," said a trader.
The top term naphtha supplier on Wednesday sold some 50,000 tonnes of spot A310 grade to Shell for September lifting at a premium of about $17.00 a tonne to Middle East quotes, on a free-on-board (FOB) basis, following the restart of its hydrocracker.
The A310 grade was the second consecutive sale from Ras Tanura in two months. [ID:nSP398601]
The 44,000 barrels per day (bpd) hydrocracking unit at the 550,000-bpd east coast Ras Tanura refinery came back onstream in late June after an extended shutdwon since March and is now operating at around 90 percent of capacity.
The fresh cargoes are slated for Sept. 16-20 lifting, traders added.
The offers were possibly made because the Asian market is strengthening due to a lack of European imports and may also be due to Saudi refineries running at a high rate, some traders said.
