Aramco ... seeking gasoil
Saudi Aramco seeks 1.6m barrels gasoil for June
SINGAPORE, May 11, 2015
Saudi Aramco is seeking 1.6 million barrels of gasoil for delivery in June, after earlier seeking similar volumes for May, traders said.
Saudi Aramco Products Trading Company (ATC), a wholly-owned subsidiary of Saudi Aramco, is seeking two cargoes of 300,000 barrels each and two cargoes of 500,000 barrels each.
The cargoes are for delivery into Jizan, Dhuba, Jeddah and Ras Tanura over June 1 to 30.
The tender closes on May 12 and is valid until May 14.
Aramco earlier sought 1.7 million barrels of gasoil for delivery in May though it is not clear if it ended up buying all the volumes.
Saudi Arabia's demand for electricity usually peaks during the summer with increased air conditioning use as temperatures soar to as high as 50 degrees Celsius. Its demand for gasoil for transport also increases during the Muslim fasting month of Ramadan, which is expected to start on June 18 this year.
Saudi Arabia was once a top importer of gasoil during summer, but its imports have reduced after the country added 800,000 barrels-per-day of capacity in two new refineries over the last two years. --Reuters
