Aramco sets Jan propane at record $935/T
Tokyo, January 4, 2011
State-run Saudi Aramco has set its January contract price for propane at a record $935 a tonne, up $30 from December, an industry source said on Tuesday.
The company lowered its January butane price by $25 from December to $920 a tonne, the source said. The prices provide a benchmark against which Middle East sales of liquefied petroleum gas (LPG) to Asia are priced.
Meanwhile, Qatar, one of Opec's smallest producers, has notified at least two Asian buyers that it will supply Land crude at full contracted volumes for February, unchanged from January levels.
The crude supplier also allocated full volumes of Marine crude for February, unchanged from January, trade sources said.
Full supplies amid strong crude prices were expected as Qatar has been supplying full volumes of both grades for over a year.
Qatar gave buyers an option of asking for cargoes to be 5 per cent more or less than contracted volumes, the same as the previous month, the sources said.-Reuters