Procurement News Notice |
|
| PNN | 81160 |
| Work Detail | Aramcos OSP for propane was increased by $10 to $635 a metric ton and butane rose by $10 to $630 a ton MOSCOW - Algerias Sonatrach and Saudi Arabias Aramco 2222.SE have raised official selling prices (OSPs) for liquefied petroleum gas (LPG) in November by about 1-3% from October owing to growing global demand, traders said on Friday. Aramcos OSP for propane was increased by $10 to $635 a metric ton PRO-OFFCL-SA and butane rose by $10 to $630 a ton. BUT-OFFCL-SA Propane and butane are types of LPG with different boiling points. LPG is mainly used as a fuel for cars and heating as well as a feedstock for other petrochemicals. Sonatrach raised the OSP for propane by $5 to $595 a ton PRO-OFFCL-DZ while butane was lifted by $20 to $600 a ton. BUT-OFFCL-DZ Aramcos OSPs for LPG are used as a reference for contracts to supply the product from the Middle East to the Asia-Pacific region. Sonatrachs OSPs are used as benchmarks for LPG in the Mediterranean, Black Sea region and Turkey. |
| Country | Saudi Arabia , Asia |
| Industry | Oil & Gas |
| Entry Date | 05 Nov 2024 |
| Source | https://www.zawya.com/en/capital-markets/commodities/sonatrach-and-saudi-aramco-raise-lpg-prices-for-november-by-1-3-s5zme72r |
